Regarding TDS and TCS

Dear sir,

I want to know if my turnover was less than 10 Cr last year and one of my customer's sales transactions was above 3 Cr, so my question is whether in this case, TDS should be deducted by the customer.

 

Replies (2)
Quick Summary
This discussion clarifies when Tax Deducted at Source (TDS) applies. If your turnover was less than 10 Cr last year, but a specific customer's sales transactions with you exceeded 3 Cr, your customer is required to deduct TDS. This is because the customer's own turnover must have exceeded the specified limit in the preceding year for TDS to be applicable.

Yes, only if His turnover exceeded the specified limit in preceding year.

Tds is applicable.

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