TC to be collected from customers when you have received more than Rs. 50 Lakhs in consideration against the sale or as an advance against the sale during a Financial Year.
The limit of Rs. 50 Lakhs is applicable for every FY. The TCS is not levied on the first Rs. 50 lakhs collection in the financial year
SSGS and Associates
Chennai
CA Inter
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Karia Overseas
Ahmedabad
CA
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CAclubindia
