sandeep sharma (29 Points)
09 May 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 09 May 2021
sandeep sharma
(29 Points)
Replied 09 May 2021
auditor ravi
(120 Points)
Replied 09 May 2021
auditor ravi
(120 Points)
Replied 09 May 2021
Lotus Agrawal
(Practice)
(1356 Points)
Replied 09 May 2021
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 09 May 2021
| Originally posted by : sandeep sharma | ||
 |
we sale goods of Rs 1cr. to AIIMS after 1st october 2020. our turnover in last FY is more than Rs. 10cr. Is TCS applicable u/s 206(1H) of Income Tax Act? |  |
If you have received >Rs.50 lacs during FY19-20 then only you are required to collect tax at source u/s 206C(1H). So check total receipts during FY19-20
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 09 May 2021
| Originally posted by : sandeep sharma | ||
|
we sale goods of Rs 1cr. to AIIMS after 1st october 2020. our turnover in last FY is more than Rs. 10cr. Is TCS applicable u/s 206(1H) of Income Tax Act? | |
If you have received >Rs.50 lacs during FY19-20 then only you are required to collect tax at source u/s 206C(1H). So check total receipts during FY19-20
Lotus Agrawal
(Practice)
(1356 Points)
Replied 09 May 2021
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 09 May 2021
Oh! yes, thanks. I meant total receipts during FY19-20 (1st Oct onwards)
Lotus Agrawal
(Practice)
(1356 Points)
Replied 09 May 2021
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 09 May 2021
OMG! You are right. I didn't get it again!. It is FY 20-21
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