TCS U/s 206C(1H)
This query is : Resolved
22 December 2020
Dear Madam/Sir
Whether sale of scrap (like TMT Scrap, Structural Steel Scrap, Cement Bag Scrap etc.) in construction sector attract TCS U/s 206C(1H) ?
Regards,
Dilip Baranwal
Whether sale of scrap (like TMT Scrap, Structural Steel Scrap, Cement Bag Scrap etc.) in construction sector attract TCS U/s 206C(1H) ?
Regards,
Dilip Baranwal
22 December 2020
If TCS already deducted under scraps sale TCS under the section not applicable.
22 December 2020
TCS were not deducted in earlier as scrap were created in civil work and not from manufacturing or mechanical work. Now as scrap generate in civil contract work, whether TCS will be applicable U/s 206C(1H) effective from 01.10.20. (Sales already exceed Rs.80 lakh and Payment received were more then 50 Lakh during F.Y. 2020-21)
22 December 2020
In such a case TCS applicable under section 206C(1H).
22 December 2020
Thank you so much sir
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
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Eway bill for machinery reparing
- Applicable TDS for Purchase of Flat from NRI
- Form 10BD Filling
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Taxation in the hands of Landowner under JDA
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
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
