U/c 206 CR
This query is : Resolved
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manjunatha
(Querist)
04 August 2023
Whether we need to deduct the TCS for the amount received (>50 lakhs) from Public Sector Undertaking company U/s 206 CR of the Income Tax Act?
CA R SEETHARAMAN
(Expert)
04 August 2023
TCS u/s 206 CR not applicable to public sector undertakings.
manjunatha
(Querist)
04 August 2023
Sir,
Ours is a Public Sector Undertaking Company (ABC) and selling goods to another Public Sector Undertaking Company (XYZ) and received amount more than 50 lakhs from XYZ Company.
Whether we need to deduct 0.1% on the amount received over and above 50 lakhs?
Ours is a Public Sector Undertaking Company (ABC) and selling goods to another Public Sector Undertaking Company (XYZ) and received amount more than 50 lakhs from XYZ Company.
Whether we need to deduct 0.1% on the amount received over and above 50 lakhs?
CA R SEETHARAMAN
(Expert)
04 August 2023
TCS applicable under section 206C(1H) of the Income Tax Act.
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