TCS applicability sale of good

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student
73 Points Posted on 01 May 2021
TCS (206c 1h) sale of good

One person has collected. 60 lakh for sale of good in the month of April 21 only

He have to deduct TCS @ .1% on 60 or 10 lakh??
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On 01 May 2021 at 09:52 Report
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Quick Summary
This discussion clarifies the applicability of Tax Collected at Source (TCS) on the sale of goods. Specifically, it addresses a scenario where a seller collected ₹60 lakh in April 2021. The consensus is that TCS is applicable only on the amount exceeding ₹10 lakh, meaning TCS should be deducted on the ₹50 lakh that surpasses the threshold.

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9 Points Posted on 01 May 2021
10 lakh maybe
1 Reply
On 01 May 2021 at 10:44
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Learner
2398 Points Posted on 01 May 2021
On 10 Lakhs only.
1 Reply
On 01 May 2021 at 10:52
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student
73 Points Posted on 01 May 2021
Ok thanks all
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On 01 May 2021 at 10:53
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9 Points Posted on 01 May 2021
Explain it sir
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On 01 May 2021 at 10:55

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