Chartered Accountant
5010 Points
Posted on 01 April 2022
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