Section 206c
vimugdha sharma (student) (70 Points)
27 June 2016
whether seller deduct tcs in follwing situation
goods sold on 25 may 2016 and cash payment received on 6.6.2016 .
vimugdha sharma (student) (70 Points)
27 June 2016
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 30 June 2016
Helllo
Based on the reading of the provisions, it is inferred that, no liability arises to collect TCS; as event arises (Sale of Goods/Provision of Service) already before applicability of law, no need to collect tax at source along with amount received for sale consideration during the period, law became effective .
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