What is the limit for TCS ?

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Accounts Officer & In charge
20 Points Posted on 08 May 2021

What is the limit for TCS on sale of goods?

1 Individual PAN status - ?

2. Others - ?

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On 08 May 2021 at 14:29 Report
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This discussion clarifies the Tax Collected at Source (TCS) limit on the sale of goods in India. The primary threshold is ₹50 lakhs, applicable if the seller's turnover in the preceding financial year exceeded ₹10 crore. The rate for TCS on sale of goods for FY 2021-22 was confirmed as 0.1%.

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CMA
20 Points Posted on 08 May 2021
Assuming that you are referring to the rate of TCS, it is same for all (unlike TDS).
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On 08 May 2021 at 14:38
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Accounts Officer & In charge
20 Points Posted on 08 May 2021
What is the limit? is it 50lakhs?
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On 08 May 2021 at 15:39
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CMA
20 Points Posted on 08 May 2021

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

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On 08 May 2021 at 16:43
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Chartered Accountant
20 Points Posted on 08 May 2021
Yes limit for TCS is 50 lakhs e
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On 08 May 2021 at 17:03
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Accounts Officer & In charge
20 Points Posted on 08 May 2021
What is the rate of TCS for fy 2021.22
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On 08 May 2021 at 17:08
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CMA
20 Points Posted on 08 May 2021
Originally posted by : Avinash Jeevan Dsouza
What is the rate of TCS for fy 2021.22

It is 0.1%

1 Reply
On 08 May 2021 at 17:10

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