Tcs on sale bill over 2lakhs

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makhan lall kajaria (Querist)
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07 April 2017 BILL FOR 2 LAKHS PAID ONE LAKH IN CASH AND ONE LAKH BY CHEQUE
WHETHER TCS HAVE TO COLLECTED ON TWO LAKHS ON ONLY ON CASH PORTION I.E.ONE LAKH
PLEASE CLARIFY URGENT

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 April 2017 TCS will be collected only on cash component (in case cash consideration exceeds 2,00,000) and not on the entire sale consideration.

Inference - CBDT Circular 23/2016 dated 24-6-2016.

makhan lall kajaria

makhan lall kajaria (Querist)
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08 April 2017 MR. B.CHACKRAPANI- THANKS FOR YOUR REPLY