TCS U/s 206C(1H)


This query is : Open 

Quick Summary
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 ...


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details