Tcs on goods sold

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292 Points Posted on 04 February 2023
My account has deducted TCS on Total value of sales on 82,00,000/- and he filed the return but I come to know that TCS shall be deducted on difference amount ie 82,00,000-50,00,000 =32,00,000/-... is there any problem??? kindly reply..
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On 04 February 2023 at 17:08 Report
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Quick Summary
This discussion addresses a query regarding the correct calculation of Tax Collected at Source (TCS) on goods sold. The user mistakenly deducted TCS on the total sales value of ₹82,00,000 instead of the difference (₹82,00,000 - ₹50,00,000 = ₹32,00,000). However, the consensus from other users is that this is not a problem, as deducting more tax than required is generally acceptable, and the return has already been filed.

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791 Points Posted on 04 February 2023
No problem because tds deduct is more not short deducation
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On 04 February 2023 at 18:59
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Chartered Accountant
86505 Points Posted on 04 February 2023
There is no problem in deduction of higher TDS.
3 Reply
On 04 February 2023 at 21:16
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Profession Business
28246 Points Posted on 05 February 2023
Tcs is not applicable. wrong
1 Reply
On 05 February 2023 at 09:00
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Chartered Accountant
86505 Points Posted on 05 February 2023
TCS is collected and TDS is deducted
1 Reply
On 05 February 2023 at 12:19
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292 Points Posted on 05 February 2023
@ CA Rashmi Gandhi: we collected TCS on Total sales... is there a problem???
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On 05 February 2023 at 22:35
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Chartered Accountant
86505 Points Posted on 07 February 2023
No problem in that
1 Reply
On 07 February 2023 at 22:10

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