Tax collected at source

This query is : Resolved

Krishna (Querist)
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14 December 2013 please tell me due date of depositing TCS by seller to the credit of government and also due date of filing TCS return Also help me to know whether TCS credit is available to purchaser?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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14 December 2013 1 week from the last day of the month in which collection is made.

quarterly return has to be filed. Cut off dates are 15th July,15th October, 15th January and 15th May of next year respectively.

Buyer can avail credit vide section 206C(5) of the I.T Act,1961.

CA SIDHARTH HIRALAL PATNI

CA SIDHARTH HIRALAL PATNI (Expert)
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14 December 2013 Agreed with the expert.
Dates are same as relating to deposit of TDS and Return.
Purchaser can take credit of TCS while filing his income tax Return