Tcs
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2012
WHAT IS THE ENTRY FOR TCS ???????????????
UNDER TCS WHICH KIND OF ITEN FALLS?????????????
UNDER TCS WHICH KIND OF ITEN FALLS?????????????
08 June 2012
Debtor A/c Dr
To Sale
TO TCS Payable
TCS Payable A/c Dr
To Bank
Section 206C of the Income Tax Act deals with TCS and covers the following items:
1. Alcoholic Liquor for human consumption
2. Tendu leaves
3. Timber obtained under a forest lease
4. Timber obtained by any mode other than under a forest lease
5. Any other forest produce not being timber or tendu leaves
6. Scrap
7. Minerals, being coal or lignite or iron ore
To Sale
TO TCS Payable
TCS Payable A/c Dr
To Bank
Section 206C of the Income Tax Act deals with TCS and covers the following items:
1. Alcoholic Liquor for human consumption
2. Tendu leaves
3. Timber obtained under a forest lease
4. Timber obtained by any mode other than under a forest lease
5. Any other forest produce not being timber or tendu leaves
6. Scrap
7. Minerals, being coal or lignite or iron ore
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