Tcs About seller

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Consultant
151 Points Posted on 02 November 2021

Dear Sir/Madam,

My client has doing coconut trading business.his total turnover below 5 crores for a FA. Now he sold more than 50 lakes for one of his customer. So does he TDS need to be paid ? 

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On 02 November 2021 at 13:19 Report
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Quick Summary
This discussion clarifies whether Tax Collected at Source (TCS) under Section 206C(1H) applies to a coconut trading business with a turnover below 10 crore rupees in the previous financial year. The consensus is that TCS is not applicable in this scenario, as the threshold for this section is a turnover exceeding 10 crore rupees.

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SEO Sai Gr. Hosp.
212542 Points Posted on 02 November 2021

No. TCS u/s. 206C(1H) is applicable only if the turnover becomes more than 10 Crs. in previous FY.

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On 02 November 2021 at 13:37
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Chartered Accountant
24588 Points Posted on 02 November 2021
NoT applicable
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On 02 November 2021 at 14:02
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CA
10436 Points Posted on 02 November 2021
Yes not applicable
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On 02 November 2021 at 23:57
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Chartered Accountant
24588 Points Posted on 03 November 2021
Thank you
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On 03 November 2021 at 06:12
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CA
10436 Points Posted on 03 November 2021
Welcome
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On 03 November 2021 at 14:54

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