TCS on Sal of Good for FY 2021-22
This query is : Resolved
05 April 2021
Dear Experts,
During the FY 2020-21. goods of Rs. 1.55 Crores were sold to the customer. TCS was collected on the receipts form Oct 2020. On 31st March 2021 outstanding balance Rs. 80 Lacs.
This outstanding balance will be received in May 2021. Further sale will also be made in FY 2021-22.
Whether TCS have to be collected from the customer on all the sale made him in FY 2021-22?
Whether the limit of Rs. 50 Lacs have to checked again for FY 2021-22?
During the FY 2020-21. goods of Rs. 1.55 Crores were sold to the customer. TCS was collected on the receipts form Oct 2020. On 31st March 2021 outstanding balance Rs. 80 Lacs.
This outstanding balance will be received in May 2021. Further sale will also be made in FY 2021-22.
Whether TCS have to be collected from the customer on all the sale made him in FY 2021-22?
Whether the limit of Rs. 50 Lacs have to checked again for FY 2021-22?
05 April 2021
yes, TCS have to be collected from the customer on all the sale made him in FY 2021-22.
05 April 2021
Whether the TCS have to be collected from the very 1st sale made to customer.
No need to look for the limit of Rs. 50 Lacs every FY?
No need to look for the limit of Rs. 50 Lacs every FY?
05 April 2021
You need to look for the limit of Rs. 50 Lacs every FY.
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
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- ITR selection for salaries and capital gain less than L
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
