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Who is liable for tcs collection?

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(Querist)
25 April 2012
Who is liable to collection TCS and what is the requirement for collection of TCS? There is any exemption limit for the same as in TDS case.

Regards
Ram Ji
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
25 April 2012 Every person who sells goods mentioned in TCS schedule is liable to collect TCS.
You have to collect the TCS and deposit the same within 7th of next month.
there is no exemption limit for TCS collection.
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Ram Ji Srivastava

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Ram Ji Srivastava (Querist)
25 April 2012 Dear Prashant Sir,

Thanx for your valuable advice.

Regards,
Ram JI
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CA PRAVEEN SINGH

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CA PRAVEEN SINGH (Expert)
25 April 2012 AGREE WITH ABOVE...
GENERALLY TCS IS COLLECTED ON SALE OF SCRAP.
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