TCS Return Filing Query

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344 Points Posted on 12 January 2021
Hello All Respected Experts, Good Evening,
We have received payment on Dec Month (TCS also Collected) and Billed to Customer in Jan 2021.

We have deposit TCS challan on Basis of TCS Collection instead of Bill Issuance and Using RPU software for preparation of TCS return.

Please suggest can we show Payment received from Customer in December and Bill date of Jan, in TCS return of quarter ended Dec2020.
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On 12 January 2021 at 19:43 Report
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Quick Summary
This discussion addresses a query regarding TCS return filing. The user received payment and collected TCS in December but billed the customer in January. They deposited the TCS based on collection rather than billing. The core question is whether to report this in the TCS return for the quarter ending December 2020, considering that TCS is payable to the government upon collection.

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14 Points Posted on 13 January 2021
As per Income Tax Act TCS is to be paid to government after it is collected from customer. Hence reporting in TCS return will be on same basis
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On 13 January 2021 at 16:38
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Accountant
4533 Points Posted on 16 January 2021
Hello
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On 16 January 2021 at 19:23

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