Tcs on sale of goods
This query is : Resolved
Anant Gupta
(Querist)
10 June 2016
We are into book publication and sell school text books. Selling of school text books is treated as sale of goods. Please advice on TCS on following points
1. Customers make deposit to our bank account more than 2 lakhs in single deposit. Will TCS be applicable on such transaction.
2. We conduct counter sales in various schools and amount received is deposited in bank which sometimes is more than 2 lakhs. The sale is done by our staff so it this case also will TCS be applicable.
1. Customers make deposit to our bank account more than 2 lakhs in single deposit. Will TCS be applicable on such transaction.
2. We conduct counter sales in various schools and amount received is deposited in bank which sometimes is more than 2 lakhs. The sale is done by our staff so it this case also will TCS be applicable.
Rupesh Jain
(Expert)
10 June 2016
if you are HUF or individual its apply if you are getting audit your books u/s 44 AB. and bill exceeds Rs. 200000/- then TCS will apply.
Anant Gupta
(Querist)
10 June 2016
Sir thanks for your quick reply. Just to clarify. The sale is conducted outstation to various children of a particular for different set of books they buy. The total amount comes to more than 2 lakhs and the same is deposited in the bank will that attract TCS
Rupesh Jain
(Expert)
10 June 2016
for TCS condition if your single bill exceeds Rs. 2 lacs then tcs apply. not the total amount of sales.
Anant Gupta
(Querist)
10 June 2016
Just last query if we make multiple cash sales to the same party with single bill amount less than 2 lakhs but totaling more than 2 lakhs will attract TCS or not.
Anant Gupta
(Querist)
10 June 2016
Just last query if we make multiple cash sales to the same party with single bill amount less than 2 lakhs but totaling more than 2 lakhs will attract TCS or not.
CA SUNIL K GARG
(Expert)
11 June 2016
No TCS will attract if single bill amount less than Rs. 2Lakhs.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Oct 2025 Invoices
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
