TCS -Buyer or Seller ??


07 May 2024  

My client did not cross the 10 crore turnover limit for deducting ( collecting )tcs in the previous f.y. ,i.e 22-23 . But in the F.Y. 23-24 , if turnover crosses the 10 Crore limit .... then 


A) Actually Turnover Limit Matter ??

b) If it is , then from which year he will have to deduct ( collect ) TCS

C) Whether buyer collects the TCS or Seller ?? 

D) Till date he has not collected any tcs & not filled any tcs return yet .... So whether he collects the TCS yearly rather monthly over 50 lac transaction ??

E) How to calculate TCS, on invoice amount or against the payment received or paid ??