TCS on cash payment more than 5 lakh on jewellary
tcs should be charged or not in the below case for the current F.Y2012-13
invoice price 6 lakh
if cash received 200000 and 400000 by cheque
ABHISHEK (Student) (412 Points)
11 March 2013
TCS on cash payment more than 5 lakh on jewellary
tcs should be charged or not in the below case for the current F.Y2012-13
invoice price 6 lakh
if cash received 200000 and 400000 by cheque
CA Ritu sharma
(job)
(40 Points)
Replied 12 March 2013
Section 206C 1D FA 2012
TCS should not be deducted as aggregate reciepts IN CASH is Rs. 2 lacs ie doesnot exceeds Rs 5 lacs
If remaining Rs 4 lacs will be paid in cash then TCS should be deducted in the whole amount of Rs 6 lacs at 1%
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