service is rendered before 01.06.2016, invoice date and payment dates are after 01.06.2016.and amount received from the service provider in cash is 300000. whether new provisions of tds applicable or not ??????pls guide me.....
kiran mannuru (6 Points)
31 May 2016service is rendered before 01.06.2016, invoice date and payment dates are after 01.06.2016.and amount received from the service provider in cash is 300000. whether new provisions of tds applicable or not ??????pls guide me.....
Vinay somani (CA, CS)
(Assistant Manager-Accounts)
(549 Points)
Replied 31 May 2016
Yes in this case u have to collect TCS @ 1% at the time of receipt of consideration.
prakash
(accountant)
(21 Points)
Replied 31 May 2016
At the time of payment business auxilary service TDS how much % Deduct
kiran
(article assistant)
(45 Points)
Replied 01 June 2016
if invoice date is before 01.06.2016.... what are tax circumstances????????
Vinay somani (CA, CS)
(Assistant Manager-Accounts)
(549 Points)
Replied 01 June 2016
as per the section 206c(1d) TCS @ 1% should be deducted at the time of receipt of consideration.
so as per this language if Invoice raised before 1/6/16 but amount received after 1/6/16 then TCS @ 1% should be deduct.
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