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TCS under Section 206C (1H)

Deepshikha Sharma (Tax Professional)     21 September 2020

Deepshikha Sharma
Tax Professional 
 1 likes  60 points

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For the applicability of Section 206C , if the turnover for current year exceeds 50 lakhs then we will collect TCS on all the considerations received after 01.10.2020. My query is that , if collection relates to sales done in FY 2019-20 and is received after 01.10.2020 then is it required to be collected with TCS charged on it. If yes , whether the limit of 50 lakhs be applicable on it.

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