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TCS REGARDING FOR FY 21-22
IN 21-22 FY COLLECT TCS AFTER CROSS THRESHOLD LIMIT OR NOT
Replies (12)
Quick Summary
After cross threshold
Thank u sir
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.
Limit of Rs. 50L is for the FY
Getting confusion pls provide any notification
Read section 206c 1(h)
Ok sir
Please read tcs press release dated 30/09/2020..in that it is clearly mentioned threshold limit 50lakhs for current FY not previous years
All are getting confused
This is a debatable issue. In my opinion, TCS must be collected from the start of the FY 2021-22 is previous limit exceeded.
Mdam manjula so many are said TCS must be collect from 1.4.21, but you told after cross TL in current fy
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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