Tcs clarifications
This query is : Resolved
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.
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.
So in your case if value of service exceeds Rs. 2 lakh and even single amount received in cash, liability of TCS will arise.
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.
and motor vehicle for exceeds 10 lacs its in cash or not tcs will applicable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Under marginal scheme
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
