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.
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.
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.
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