TCS on cash payments
This query is : Open
02 July 2016
Dear Experts, can anyone of you please let me know whether TCS 1% on cash payments exceeding Rs. 2 lacs is transaction wise or per annum?
my 2nd query is it suggestable to raise 2 seperate invoices to avoid the above levy?
pls respond. it's urgent. pls share if any circular/notification available. ..
Thank you...
02 July 2016
It is applicable transaction wise. Inference CBDT circular in https://www.incometaxindia.gov.in/communications/circular/circular232016.pdf
02 July 2016
many thanks for the response.
02 July 2016
can pls respond for my second query
02 July 2016
got the logic. Thank you..
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