In F.Y 2020-21 tcs applicable on buyer due to sale exceeds over 50 lakh till March 2021.
In F.Y 2021-22 will tcs applicabe on same buyer from april onwards or when his sale exceeds over 50 lakh in F.Y 2021-2022 ?
7 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 04 April 2021
It will be applicable as turnover exceeds 50 lakh rupees
V SUBRAMANIAM
(Tax consultant )
(546 Points)
Replied 04 April 2021
It is not on sales
receipt crosses fifty lakhs
if crosses in 20 21
applicable from April 21
receipt crosses fifty lakhs
if crosses in 20 21
applicable from April 21
V SUBRAMANIAM
(Tax consultant )
(546 Points)
Replied 04 April 2021
17/2020 dt 29 o9.20
of income tax.
of income tax.
V SUBRAMANIAM
(Tax consultant )
(546 Points)
Replied 04 April 2021
206CR Only tds filing purpose
study the circular and act accordingly.
actual section 206c1(h)
study the circular and act accordingly.
actual section 206c1(h)
Manjula
(Accountant )
(119 Points)
Replied 04 April 2021
Actually tds applicable once receipts exceeds 50lakhs from same buyer in every financial year.It not depending on the receipt of previous year.
Recent Topics
- Loan of a company against HUF Deposits
- Tax on EPF post separation, when there is no Emplo
- Ancestral HUF property after partition belongs to
- Looking for Hospital M&A Opportunities –
- ITC Not Auto-Populating in GSTR-3B Despite Ledger
- Official answer for income tax query
- FD in ITR-4
- Exception in salary - new tax regime
- Tax Calculation as per New Tax regime
- What is Annexure B
Related Threads
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
