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TCS Related Queries
for the fy 2019 -20 turnover is Rs 4 cr but the current fy still sep turnover is Rs.10.50 cr now tcs applicable or not
Replies (2)
To collect the TCS from the buyer, the seller must have a turnover of minimumof Rs.10 Crores for the Preceding Financial year.If in any preceding Financial year, the turnover of the seller hasless than Rs.10 Crores, then the seller is not liable to collect the TCS from the buyer.
thus in your case not applicable.
thus in your case not applicable.
Not applicable in Current financial year i.e in F.Y 2020-21 (as turnover of F.Y 2019-20 is below 10 Crore) but Applicable for F.Y 2021-22
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