TCS on Turnover u/s.6CL
This query is : Resolved
03 April 2021
Sir,
As we all know TCS u/s.6CR to be collected from those customers to whom a seller sells above 50 lacs during a financial year.
My query is whether collection is to continuously done even-after 01/04/2021 or collection to be made for bills only as & when the Total Turnover crosses 50 lacs. after above date.
As we all know TCS u/s.6CR to be collected from those customers to whom a seller sells above 50 lacs during a financial year.
My query is whether collection is to continuously done even-after 01/04/2021 or collection to be made for bills only as & when the Total Turnover crosses 50 lacs. after above date.
05 April 2021
1) The trigger point here is when receipts (sale consideration) exceed threshold limit of ₹50 lacs (not sale value). When total receipts from a particular customer exceed the limit, tax to be collected at source, at applicable rates.
2) Such receipts to be considered on yearly basis.
2) Such receipts to be considered on yearly basis.
05 April 2021
Thank you , mam. Now it is clear for me!
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
- Traces Portal
- Minor Aadhar card cancelled
- U/s.234E late fee- balated filing the TDS returns
- Unable to login
- Applicability of corporate governance provisions as per the SEBI LODR
- RD1 approval
- Minor - PPF Rules Doubt
- Form 121 of income tax
- Cheque bounce intimation letter
- TDS ON SALE OF JOINTLY HELD PROPERTY
- Capital Gain Incidents
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
