Can we issue monthly debit notes for TCS , or is it compulsory to charges in invoices only ?
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TCS - DEBIT NOTES
Replies (4)
Yes, You can give monthly once.
But, Better practice is with charge through invoice...
But, Better practice is with charge through invoice...
| Originally posted by : RAJA P M | ||
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Yes, You can give monthly once.But, Better practice is with charge through invoice... |  |
I just want to confirm that , TCS Depend on crossing 50 L turnover or 50 L receipts from customer . i think whichever is earlier one should charge tcs , right ??
| Originally posted by : NARENDRA | ||
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Originally posted by : RAJA P M Yes, You can give monthly once.But, Better practice is with charge through invoice... I just want to confirm that , TCS Depend on crossing 50 L turnover or 50 L receipts from customer . i think whichever is earlier one should charge tcs , right ?? |
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Are You asking about sec 194Q of ITA...??!
TCS is on receipt basis. So charging in invoices is completely an incorrect way to do. Must stick to TCS debit notes only. Also, inform customers about this in advance. Procure TDS TCS declarations for qualifying customers
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