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Tcs clarifications

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(Querist)
09 June 2016 Dear sir , as per CBDT clarification TCS is not applicable cash received up to 2,00,000/- for more than sale consideration 2,00,00/- and less than sale consideration 10,00,000/- . is it correct sir.
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CA SUNIL K GARG

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CA SUNIL K GARG (Expert)
09 June 2016 As per Section 206C(ID) of income tax act, 1961, If value of services exceeds Rs. 2,00,000/- and any amount received in cash, liability to collect TCS arises until and unless on such provision of service no amount is deducted under Chapter XVII-B.
So in your case if value of service exceeds Rs. 2 lakh and even single amount received in cash, liability of TCS will arise.
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Rupesh Jain

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Rupesh Jain (Expert)
09 June 2016 services and goods exceeds Rs. 2 lacs in cash
and motor vehicle for exceeds 10 lacs its in cash or not tcs will applicable.
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