Tcs

Sec. 206C deals with Tax collection at source.

• Every person being a seller
• Needs to collect TCS at the time of

                 Debiting of amount payable by the buyer

                                             OR

                 Receipt of such amount from the buyer

                              (Whichever is earlier )

on Sale of Scrap @ 1%.

Scrap means waste and scrap from the manufacture or mechanical working of materials which is usable as such because of breakage, cutting up, wear and tear and other reasons.

So you have to collect TCS and the same should be remitted to the government on or before 7th of the succeding month other than March month and for March the last date will be 30th April. 

Apart from that you need to file TCS return in form 27EQ for quarter ending June, Sept, Dec and March by 15th July, 15th Oct, 15th Jan and 15th May respectively.