27 July 2021
Sir, It assess view 26as in f.y.20-21 details mentioned below Sec 206cq Name of collector: Axis Bank Amount rs:1,50,000/- Tcs collected:nil Tcs deposit:nil Question: Assess above mentioned amount rs:1,50,000/- show in it returns and books (income or expenses treated)
28 July 2021
206CQ. Collection at source on remittance under LRS for purpose other than for purchase of overseas tour package or for educational loan taken from financial institution. TCS not applicable when remittance is below 7 lacs. No need to show it in ITR.
CAclubindia
