Tds & TCS regarding

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380 Points Posted on 04 August 2021
dear friends my yearly total turnover below 10 crores but my purchase value from a single dealer will come above 50 lacs and sales value also a single dealer will come above 50 lacs in that matter tds & tcs .10% should applicable for me or not kindly clarify
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On 04 August 2021 at 11:28 Report
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This discussion clarifies the applicability of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) for businesses with a yearly turnover below 10 crores. Specifically, it addresses whether the 10% rate applies when purchases or sales with a single dealer exceed 50 lakhs. The consensus reached is that the 10% TDS/TCS is generally not required in this scenario.

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29 Points Posted on 04 August 2021
No not required
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On 04 August 2021 at 11:36
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380 Points Posted on 04 August 2021
Ok thank you
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On 04 August 2021 at 11:40
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Chartered Accountant
24588 Points Posted on 04 August 2021
Not required
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On 04 August 2021 at 13:13

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