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Is tcs provision under section 206c (1d) applicable for tuition fee received in cash

eswar (employee) (30 Points)

02 June 2016

Can any one suggest me that, my entity is an educational institute and students are paying tuition fee which is more than Rs.2,00,000/- in cash, at the time of admission they will bring the cash we will give them a challan to deposit in the bank. Is this transaction attracts Section 206C (1D)

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SUPRIYA (PRACTICE) (853 Points)
Replied 02 June 2016

W.E.F 01.06.2016 1% TCS is applicable on any other goods and services (exceeding Rs. 2.00 Lakh) if TDS Provision is not applicable

According to this provision every following person is covered under the scope of the seller for the purpose of TCS:

(i) The Central and State Government.

(ii) Local authority

(iii) Statutory corporation or Authority

(iv) Company

(v) Firm

(vi) Co-operative society

(vii) Individual or Hindu undivided family (HUF) ,whose books of accounts are liable to be audited under section 44AB of Income Tax Act.

Please Note that the above provision is applicable to cash payment received ( in full or part) against a single invoice of Rs 2Lakhs or more, towards sale of service or goods.

eswar (employee) (30 Points)
Replied 02 June 2016

My university is GITAM university, Visakhapatnam is a register society for charitable purpose and providing educational services only, so can you suggest the related provisions under section 206C(1D)