We are service provider and required to deduct TCS u/s 206C(1H). Service Recipient is also saying to deduct TDS u/s 94C. Query as below;
1. Service Recipient has not informed us in advance about TDS deduction at their end !
2. Is it possible that both the parties can deduct TCS/TDS at their respective end on same (single) transaction.
1) 206C(1H) is applicable on the seller against sale of goods (not on services). For services, the service provider is required to deduct tax at source (in this case u/s 194C if applicable)
2) Both the parties are NOT required to deduct/collect tax on the same transaction.
No it is not possible that both the parties can deduct TCS/TDS at their respective end on same (single) transaction.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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