TCS applicability on sale of goods to AIIMS

This discussion clarifies the applicability of Tax Collected at Source (TCS) under Section 206(1H) of the Income Tax Act for sales of goods exceeding Rs. 50 lakhs to AIIMS. If your turnover in the preceding financial year was over Rs. 10 crore, TCS is applicable from October 1st, 2020. If TCS was missed between October 2020 and March 2021, it must be collected retrospectively, though interest and late fees may apply.