TCS on 50 lakhs

dear sir,
if turnover 58 lakh then TCS deposit on 58 lakhs or diffrence 8 lakhs
and collect every invoice
Replies (2)
Quick Summary
This discussion clarifies the application of Tax Collected at Source (TCS) when your turnover exceeds 50 lakhs. It addresses whether TCS is calculated on the entire turnover or just the amount exceeding 50 lakhs. The consensus is that TCS is applicable on payments received, and the query seeks to confirm the exact calculation method for invoices.

Collect on difference amount
It's Applicable on payment received.

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