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???
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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...
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