Tcs
This query is : Resolved
17 August 2016
WE ARE MANUFACTURERS OF DE OILED RICE BRAN FROM SOLVENT EXTRACTION PROCESS WE ARE SELLING OUR DOB TO LOCAL FARMERS TO CASH MY DOUBTS ARE AS FOLLOWS:
1) CASH SALE TO MR X 1,50,000/- NO TCS APPLICABLE
BUT OUR TOTAL TRANSACTIONS TO MR X IS 25,00,000/- IN THIS MONTH ALL INVOICES ARE BELOW 2,00,000
TOTAL AMOUNT OF RS.25,00,000/- RECEIVED IN CASH
THERE IS ANY LIABILITY TO PAY TCS FOR THE ABOVE TRANSACTION
THANKING YOU
1) CASH SALE TO MR X 1,50,000/- NO TCS APPLICABLE
BUT OUR TOTAL TRANSACTIONS TO MR X IS 25,00,000/- IN THIS MONTH ALL INVOICES ARE BELOW 2,00,000
TOTAL AMOUNT OF RS.25,00,000/- RECEIVED IN CASH
THERE IS ANY LIABILITY TO PAY TCS FOR THE ABOVE TRANSACTION
THANKING YOU
CA R SEETHARAMAN
(Expert)
17 August 2016
No liability, as all the invoices value is less than 2 lacs.
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