Query on TCS

Others 846 views 3 replies

can someone please tell me when is TCS to be Collected?

thanks in advance

Replies (3)

tcs is collected on liquor timber tobacco leaves and it is included in the total amount itself we do not have to pay seperately

I want to clarify one thing. As per the provisions, if the cash sales of jewellery exceeds Rs. 500000, TCS @ 1% is applicable. However, if there is a credit sale of Jewellery of Rs. 10,00,000/- and after a month, the customer pays Rs. 6,00,000/- in cash and balance Rs. 4,00,000/- through A/c Payee cheque. Whether TCS will be applicable in the given case? Whether Rs.6,00,000/- will be considered as payment agaist credit sale or cash sales?

https://www.simpletaxindia.net/2008/12/tax-collection-at-sourcetcs-provisions.H T M L


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