TCS U/s 206C(1H)


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This discussion clarifies the applicability of Tax Collected at Source (TCS) under Section 206C(1H) of the Income Tax Act. It confirms that TCS is indeed applicable on the sale of High-Speed Diesel (HSD) or fuel to a single party, provided the total collection of payment exceeds 50 Lakhs within a financial year. This applies even if the petrol pump's total sales exceed 10 Crore for the year.

28 January 2021 Dear Sir,

Whether TCS U/s 206C (1H) is applicable on sale of HSD/Fuel to a single party and collection of payment more then 50 Lakh in a F.Y. Petrol pump has total sale in a F.Y. more than 10 Crore.

Thanks with Regards,

Dilip Baranwal

28 January 2021 Yes, TCS applicable on such sale.

28 January 2021 Yes, TCS will be applicable.

28 January 2021 Thank you very much for your assistant

29 January 2021 TCS will be applicable ...


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