New TCS u/s 206C(1H)
This query is : Resolved
Quick Summary
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..
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..
CA R SEETHARAMAN
(Expert)
21 October 2020
Yes, it's right, only when it's shown in the invoice payment will be received.
CA Rashmi Gandhi
(Expert)
30 January 2021
TCS is to be deducted only if payment received is more than Rs.50,00,000
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