if in previous years ie fy 20 -21 if one of the party sale exceeds 50 lakh and we colleceted tcs on it , now from 1 april 2021 if we are giving sale in 2 april for 50000 do we need to collect tcs , seeing its previous years sales as exceeded 50 lakh
No, the limit of such sales needs to be considered every year, but if you already know that it is going to exceed 50 lakhs in the year, then it will be a good accounting and compliance practice to provide for TCS
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