What is the limit for TCS ?

Avinash Jeevan Dsouza (Accounts Officer & In charge) (3298 Points)

08 May 2021

What is the limit for TCS on sale of goods?

1 Individual PAN status - ?

2. Others - ?

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CMA Poornima Madhava (CMA) (13112 Points)
Replied 08 May 2021

Assuming that you are referring to the rate of TCS, it is same for all (unlike TDS).

Avinash Jeevan Dsouza (Accounts Officer & In charge) (3298 Points)
Replied 08 May 2021

What is the limit? is it 50lakhs?

CMA Poornima Madhava (CMA) (13112 Points)
Replied 08 May 2021

Yes, w.r.t. section 206C(1H), you are right, provided the turnover in the preceding year is >10cr

CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 08 May 2021

Yes limit for TCS is 50 lakhs e

Avinash Jeevan Dsouza (Accounts Officer & In charge) (3298 Points)
Replied 08 May 2021

What is the rate of TCS for fy 2021.22

CMA Poornima Madhava (CMA) (13112 Points)
Replied 08 May 2021

Originally posted by : Avinash Jeevan Dsouza
	What is the rate of TCS for fy 2021.22

It is 0.1%

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