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
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Tcs on cash payment more than 5 lakh on jewellary
Replies (2)
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%
Thanks a lot
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