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TCS ON SALE OF GOOD 206C(1H)
WE ARE CALCULATING TCS AFTER THRESHOLD LIMIT CROSSED 50LAKHS.FROM 1.10.20. HERE CALCULATE THRESHOLD LIMIT 50 LAKHS ONLY FROM 1.4.20 TO 30.09.20 OR PREVIOUS OF 1.10.2020
Replies (3)
You doubt is not clear
You have to check the limit separately for every FY.
You need to include receipts from 1st April 2020 onwards to arrive at the threshold limit of Rs.50 lacs. Once the limit is crossed either on 1st Oct or later as and when crossed, you are required to collect tax on the receipts exceeding Rs.50 lacs.
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