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TCS APLLICABLE OR NOT

pavan kumar Palore (1 Points)

17 May 2021

IF BUSINESS TURNOVER PREVIOUS YEAR IS 5CR BUT CURRENT YEAR WE AXPECTED ABOVE 10CR WE CAN COLLECT TCS

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6 Replies

RENU SHARMA (1388 Points)
Replied 18 May 2021

No tcs will not applicable

1 Like

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 18 May 2021

Yes TCS is applicable

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 18 May 2021

No the TCS not applicable.
In term of Section 206C(1H) , TCS Applicable If Seller of goods having turnover exceeding Rs. 10 crore
in PREVIOUS FINANCIAL year.
So you are eligible to deduct it from FY 2022-23

CMA Poornima Madhava (CMA) (13097 Points)
Replied 18 May 2021

No TCS provisions are applicable in your case

Deepak Kumar (791 Points)
Replied 19 May 2021

I think YES Tcs is aplicable. a person having turnover/total sales from business exceeding Rs.10 Crores during the financial year (FY) preceding the FY in which goods are sold