TCS under section 206
This query is : Resolved
14 May 2021
In previous year (fy 20-21) crossed Rs 10 and till now my total turnover is 1.50 Crore , but till now have not crossed limit of Rs 50 lakh total transaction from any single party .
Does I have to collect TCS under section 206 C
Does I have to collect TCS under section 206 C
14 May 2021
Assuming PY turnover is >10cr, you don't have to collect tax at source (TCS) if receipts so far from a single party has not exceeded the limit of Rs.50 lacs during FY21-22.
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