TCS on cash sale
This query is : Resolved
purva jain
(Querist)
08 June 2016
kindly explain amendment u/s 206C
whether 2lakh limit of cash sale for collectingTCS is on cash sale on single 2 lakh bill or year wise 2 lakh sale to single party
Amol S Joglekar
(Expert)
09 June 2016
it is applicable for single bill.
purva jain
(Querist)
09 June 2016
okk, thank you Amol S Joglekar
Amol S Joglekar
(Expert)
09 June 2016
Just , to stretch the topic to other extreme,......however please note....a bill is say 8 lakh. Through RTGS or other than cash, amount of 795,000 is paid. 5000 being paid in CASH........the provisions of TCS become applicable.......
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