Tcs on sale bill over 2lakhs
This query is : Resolved
07 April 2017
BILL FOR 2 LAKHS PAID ONE LAKH IN CASH AND ONE LAKH BY CHEQUE
WHETHER TCS HAVE TO COLLECTED ON TWO LAKHS ON ONLY ON CASH PORTION I.E.ONE LAKH
PLEASE CLARIFY URGENT
WHETHER TCS HAVE TO COLLECTED ON TWO LAKHS ON ONLY ON CASH PORTION I.E.ONE LAKH
PLEASE CLARIFY URGENT
07 April 2017
TCS will be collected only on cash component (in case cash consideration exceeds 2,00,000) and not on the entire sale consideration.
Inference - CBDT Circular 23/2016 dated 24-6-2016.
Inference - CBDT Circular 23/2016 dated 24-6-2016.
08 April 2017
MR. B.CHACKRAPANI- THANKS FOR YOUR REPLY
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