Regarding tcs

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heeetesh chauhan (Querist)
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07 January 2014 Sir,
1. We have received TCS lower collection certificate (u/s206(9) from party. in return we have entered "A" in reason for non deduction coloumn and certificate no issued by ITO in next resp. column but we have received demand from TDS CPC showing that "Limit as per Certificate U/s 206C
Rs."Null".
we are unable to understand that why CPC raised demand please advise.

2.Is TCS applicable on Sale of Cotton Waste

Regards.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 January 2014 TCS APLICABLE U/S 206C on sale of scrap or waste...u need to revise the tcs return after rectification...

heeetesh chauhan

heeetesh chauhan (Querist)
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07 January 2014 Sir,
As per exemption certificate issued by ITO we have deducted TCS @.30 % and CPC demanding .70% more ie(1%-.30%) wheter as per rule we have properly mentioned Exemption certificate no and reason code in return.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 January 2014 in such case u need to contact that ITO which issued this certificte...its an internal error of department....itwillbe resolved once you meet him.

heeetesh chauhan

heeetesh chauhan (Querist)
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07 January 2014 Thx a lot sir,
My 2nd question is whether TCS is applicable cotton waste because a party issued us a HIGH court madras ordedr no 1194of 2010 in which it is mentioned that scrap means waste and scrap from the manufacture or mechanical working of material which is definately not usable. further in the process of cotton yarn cotton waste genereted and use as raw material by another manufacturer so TCS would not applicable on Cotton waste kindly clear .

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 January 2014 for that u need to check 206C whether the waste they mentioned and what u referring re different then no tcs applicable.

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