FY 2019-20, T.O. = Rs.11cr & single buyer T.O. is Rs.1cr
FY 2020-21, T.O. = Rs.12cr & single buyer T.O. is Rs.25 lakh till 30 Sept 2020.
From 1st Oct 2020 T.O. is Rs.20 lakh
My question is TCS applicable for above case???
Menu
TCS on Sale of Goods Section 206C(1H)- Income Tax Act, 1961
Replies (2)
TCS would become applicable when the turnover of the single buyer from 1.4.20 would cross 50 lakhs.
Till now the turnover has just been 45 lakhs.
So TCS would become applicable once the turnover from this single buyer would cross 50 Lakhs and subsequently TCS would required to be collected on all the receipts from such buyer.
Till now the turnover has just been 45 lakhs.
So TCS would become applicable once the turnover from this single buyer would cross 50 Lakhs and subsequently TCS would required to be collected on all the receipts from such buyer.
Agree with Mili Haria ji...
Recent Threads
- Ppf and tax free bond under which header
- Laid off employee deductions admissible on severan
- Duplicate Salary entry
- Tax audit applicability on fno, intraday
- NSDL and CDSL have not reported sales made on 28th
- Schedule FA table A2 - what to specify in amount?
- GST on Real Estate Developer | Construction Contra
- How to treat losses from f and o trading in itr
- ITR 44AD and Fno
- 44AD Future and Options
Related Threads
CAclubindia
