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TCS deduction on sale
If total turnover of a firm is less than 10.00 crore and sale to a particular party is more than 50.00 lakh than we have to deduct TDs @ 0.075% or not please clarify this.
Replies (3)
Probably you are referring to TCS. TCS provisions are not applicable as the turnover is within the threshold limit.
No you don't have to collect tcs as turnover is beyond limit specified.
Both Conditions satisfied -Turnover of 10 Crore during last F.Y and April to June Turnover -50 Lakhs -Then only the provision of 194Q Applicable & the percentage is 0.01%.
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