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
Menu
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
Recent Topics :
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
Related Topics :
CAclubindia
