banner_ad

206C(1H)

131 views 3 replies
User Avatar

17 Points Posted on 16 July 2021
A person has received advance of Rs.3 crores from one creditor for supply of stock duly during 2019- 20.
Stock supplied on 01-03-2021.
Is 206c(1H) applicable.
Please do advise.
1 Reply Share Follow
On 16 July 2021 at 12:14 Report
Replies (3)
User Avatar

CMA
13117 Points Posted on 16 July 2021

If payment has been received during fy19-20, tcs is not applicable on such transactions.

92 Reply
On 16 July 2021 at 13:30
User Avatar

CA
16895 Points Posted on 17 July 2021
206C(1H) was applicable from 01.10.2020. So if payment has been received before 30.09.2020 then no TCS will be applicable.
110 Reply
On 17 July 2021 at 07:56
User Avatar

STUDENT
1631 Points Posted on 17 July 2021
Payment from -Creditor.

I Think -Debtor.

It's applicable for advance receipts also.

But you check the eligibility of 10 Crore and 50 Lakhs Turnover as well.
3 Reply
On 17 July 2021 at 13:51


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details