In 2020-2021 sale was above 10 crore, then tcs was deposited
Now in 2021-2022, sale is less than 10 crore, is it mandatory to deposite tcs on bills above 50 Lac??
Aarti Gupta (121 Points)
08 April 2022
CA Puja Sharma
(Chartered Accountant)
(4874 Points)
Replied 09 April 2022
TCS is required to be collected u/s 206C(1H) in FY 2021-22 because your turnover was more than Rs. 10 crores in FY 2020-21.
Further, if your turnover remains less than Rs. 10 crores in FY 2021-22 then no TCS is to be collected in FY 2022-23.
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
CAclubindia
