Mr A was deducting TCS of MR B in FY 2020-21 as sale is more than 50L
Now For FY 2021-22 he need to deduct TCS from first bill i.e from Rs Zero or after crossing 50 L in FY 2021-22 also
TCS is applicable once the sale consideration received crosses the limit of Rs.50 lacs in a year, provided the turnover (of collector) criterion is also satisfied.
Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
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