TCS under section 206(1H)
This query is : Resolved
13 May 2021
Turnover FY 20-21 More than 10 Crores
Current FY 21-22
Sales made to new customer in 01/04/2021 to 12/05/2021 Rs.51 Lakhs.
should i require to collect tcs @ 0.1% on entire sale amount of Rs.51 Lakhs or Rs.1 Lakhs (51-50).
Please reply.
Current FY 21-22
Sales made to new customer in 01/04/2021 to 12/05/2021 Rs.51 Lakhs.
should i require to collect tcs @ 0.1% on entire sale amount of Rs.51 Lakhs or Rs.1 Lakhs (51-50).
Please reply.
13 May 2021
Collect tax at source on Rs.1 lac, provided the payment is also received from the client.
14 May 2021
You can do that also but I think reconciliation would be a tedious task because TCS is applicable on receipts only.
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
- CG Tax On residential property
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Gift of mutual fund units to daughter
- Under construction property in ITR
- Reporting of STCG on Property in ITR
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Not able to file ITR
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- 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
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
