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TCS on sale of Goods

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(Querist)
02 November 2020 Need your help in deciding TCS calculations, if received payment from a customer of Rs. 1 CR., then TCS would be?

Option 1

10000000*.075=7500

OR

Option 2

10000000/100.075*.075=7494

Which option is correct? Plz share your valuable comment.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 November 2020 7500 is right.................
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
31 January 2021 You have to collect TCS 0.075% on Rs. 1 crore i.e. 7500/-




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