Tcs 206 C (1H)
This query is : Open
30 January 2022
Our company turnover above 10 crore. last year so we are liable to collect tcs @ 0.1% from our customer whose turnover is below 10 crore & transaction limit above Rs. 50 lacs. We already started collecting tcs on every bill from 1st April 21. Please suggest me whether it is wrong or right. Do we need to wait to cross the limit?
30 January 2022
It's not right. You need to wait to cross the limit.
31 January 2022
There is no issue as such as long as you deposit the tax amount with the government. The purchaser will be able to claim TCS on filing his return.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Number of Nominees
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Are there any exceptions for residence in Nepal under FEMA/ITA
- Income Type for interest from government bonds
- Not a CA , can we prepare balance sheet
- TCS ON SOFTWARE SALES
- Adjustment at the beginning of the year
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
