TCS ON SALE OF GOODS UNDER SECTION 206C (1) H & TDS ON PURCHASE OF GOODS UNDER SECTION 194Q
This query is : Resolved
09 June 2022
Dear,
I want to know whether tcs on sale of goods and tds on purchase of goods section are still applicable or not? because some taxpayers are saying that both these sections have been withdrawn by the government so please update by doing?
I want to know whether tcs on sale of goods and tds on purchase of goods section are still applicable or not? because some taxpayers are saying that both these sections have been withdrawn by the government so please update by doing?
10 June 2022
Both TDS and TCS continue. Section 194Q is for TDS on purchases exceeding Rs.50 lacs in a year if turnover exceeds Rs.10 crore. Likewise, TCS on sale. The limit of Rs.50 lacs to be checked each year.
10 June 2022
Yes, both the sections are still applicable.
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