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Tcs 1%
hello
I would like to know is there any new amendment applicable from 01.06.2016 of TCS 1% should be deducted on payment received in cash on sale of goods/provision of any services*xceeding Rs.2 Lac?
If Yes, how is the Tax deducted and how is this paid to Government.
what is cash is received in bank more then 2 Lacs? will TCS be deducted?
Replies (3)
I dont think TCS is attracted as per ammendment in the case reffered by you. Only sale of second hand vehicle for cash is covered under TCS amendment. I tried looking for providing a refernce link but i couldn't find it.
Dear Member please check this table;
Yes Praveen Tawania is correct. please ignore my previous reply.
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