banner_ad

Further clarification on 206c(1d)

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 July 2016 Dear Friends,

The assessee is in the business of selling Cell phones on wholesale and retails. Will tyhis provision of collection of TCS applicable, If the assessee is selling cell phones to same individual daily with a value of less than 2 lakhs per day and collecting in cash? I mean is this cash transaction limit per invoice or per person?
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
04 July 2016 The limit is 'per transaction' as per Rule 114B clause 18 , but transaction is not defined and yet to be addressed by CBDT.
Profile Image

Saket Jain

Profile Image

Saket Jain (Expert)
04 July 2016 It should be invoice wise. Regards
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details