TCS REGARDING FOR FY 21-22
D.Srinivasulu (B.SC) (202 Points)
15 April 2021
IN 21-22 FY COLLECT TCS AFTER CROSS THRESHOLD LIMIT OR NOT
12 Replies
V SUBRAMANIAM
(Tax consultant )
(546 Points)
Replied 15 April 2021
No it should be collected from the beginning
if the customer collection crosses fifty lakhs in 20.21.read board circular.
if the customer collection crosses fifty lakhs in 20.21.read board circular.
D.Srinivasulu
(B.SC)
(202 Points)
Replied 15 April 2021
Getting confusion pls provide any notification
Manjula
(Accountant )
(119 Points)
Replied 16 April 2021
Please read tcs press release dated 30/09/2020..in that it is clearly mentioned threshold limit 50lakhs for current FY not previous years
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 17 April 2021
This is a debatable issue. In my opinion, TCS must be collected from the start of the FY 2021-22 is previous limit exceeded.
D.Srinivasulu
(B.SC)
(202 Points)
Replied 17 April 2021
Mdam manjula so many are said TCS must be collect from 1.4.21, but you told after cross TL in current fy
Manjula
(Accountant )
(119 Points)
Replied 17 April 2021
Yes the cbdt circular dated 29/09/2020 is confusing about the TL. but later Cbdt cleared all the doubts in its next press release notification dated 30/09/2020. please check the notification you will come to know
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