Regarding tcs
This query is : Resolved
04 May 2018
Experts we purchase scrape and vendor deduct tcs on that bill . We have also sale scrape to our customer and we deduct tcs on our customers bill . Sir when we will deposit tcs . Then can we adjust the tcs amount.
Means suppose
Vendor deduct tcs 100
We deduct tcs on customer. 200
So when we will deposit TCS
then can we adjust tcs amount ie 100₹???
Means suppose
Vendor deduct tcs 100
We deduct tcs on customer. 200
So when we will deposit TCS
then can we adjust tcs amount ie 100₹???
04 May 2018
You can't adjust TCS like the way you propose. You have to remit full TCS deducted and file TCS return.
You have to take credit of TCS deducted from you while filing income tax return only.
You have to take credit of TCS deducted from you while filing income tax return only.
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