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Tcs, tds query

saurabh gupta (56 Points)

16 July 2021  
Sir my last year turnover was 10 crores and i pay Tcs on my purchase. So do I also have to deduct TDS on payment above 5000000?

 3 Replies

Balamurali Unnithan MS (STUDENT) (1631 Points)
Replied 16 July 2021

Yes.
April to June -2021 -Turnover is above 50 Lakhs -TDS Deduction Applicable @ 0.01% From July 1st.
1 Like

prasad Nilugal (3864 Points)
Replied 16 July 2021

TCS will be deducted by seller and TDS will be by Buyer .

Sourav (Student) (23917 Points)
Replied 16 July 2021

Yes TDS should be deducted
1 Like

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