New TCS u/s 206C(1H)

This query is : Resolved 
Quick Summary
This discussion clarifies the application of TCS under section 206C(1H) concerning charges on sales invoices. It confirms that TCS is correctly charged on sales invoices when payment is received. The threshold for TCS deduction is based on the payment received exceeding Rs. 50,00,000, not solely on the sales value.

Profile Image

Profile Image

(Querist)
20 October 2020 Dear Sir,

One Question regarding TCS section 206C(1H)

TCS (Charge in Sales Invoice) some party TCS charge in Invoice - is it right? As per section used word "Sales Consideration Received".

Rs.50,00,000/- consider on which basis on sales value or on receipt?

Please resolve the matter with illustration.

Thanks..
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
21 October 2020 Yes, it's right, only when it's shown in the invoice payment will be received.
Profile Image

CA Rashmi Gandhi

Profile Image

CA Rashmi Gandhi (Expert)
30 January 2021 TCS is to be deducted only if payment received is more than Rs.50,00,000
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Dinesh CA CMA Dinesh CA CMA Pro Member Anju SusanAnju SusanPro Member Pritanu ChakrabortyPritanu ChakrabortyPro Member Vignesh KillurVignesh KillurPro Member Bhavesh MargiBhavesh Margi
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category