TCS on sale

242 views
User Avatar

59 Points Posted on 04 October 2020
My company turn over almost 8 crore last f. y 19-20 and we sale party above 50 lakh can we collect TCS from buyer?
0 Reply Share Follow
On 04 October 2020 at 10:13 Report
Replies (3)
Quick Summary
This discussion clarifies the rules around collecting Tax Collected at Source (TCS) on sales. If your company's turnover in the previous financial year was less than 10 crore rupees, you are generally not liable to collect TCS from buyers, even if individual sales exceed 50 lakh rupees.

User Avatar

Tax and Business Consultant
11616 Points Posted on 04 October 2020
Not liable to collect TCS as turnover of last f.y doesn't exceed 10 crores.
Reply
On 04 October 2020 at 10:36
User Avatar

95 Points Posted on 04 October 2020
OK Sir Thanks
Reply
On 04 October 2020 at 12:26
User Avatar

Tax and Business Consultant
11616 Points Posted on 05 October 2020
Welcome........
Reply
On 05 October 2020 at 12:23

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Updating form 10-ee and Schedule FA if there is ch
  2. Sale of property in SLUM area ....SRA
  3. GST applicability on Shipping charges
  4. Outstanding Demand in Income Tax: How To Respond?
  5. LTCG on property sale
  6. Capital gains incidence due to bonus shares
  7. Amendment of Object Clause of Memorandum
  8. How Can I Request a Refund for an Accidental Airte
  9. TDS on salary paid in cash
  10. YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU

More recent discussions | Post

Related Topics :

Loading