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 because some taxpayers are saying that both these sections have been withdrawn by the government so please update by doing?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 because some taxpayers are saying that both these sections have been withdrawn by the government so please update by doing?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.
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
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- Residential status of non resident
- NRI INSURANCE ADVISOR
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Missed TDS
- IT returns for fresh job holders
- F&O reporting in ITR
- Query regarding reporting of exempt foreign remuneration in ITR
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- GST ISD Query on various AMCs
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
