TCS on cash payments
This query is : Open
prasanna kiran
(Querist)
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
prasanna kiran
(Querist)
02 July 2016
many thanks for the response.
prasanna kiran
(Querist)
02 July 2016
can pls respond for my second query
prasanna kiran
(Querist)
02 July 2016
got the logic. Thank you..
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