12 May 2023
Please provide the amount of TCS u/s 206CR in the following Scenario:
Sale upto Dec'22 Rs. 50,00,000 Sale in Jan'23 Rs. 10,00,000 Sale in Feb'23 Rs. 20,00,000 Sale in Mar'23 Rs. 30,00,000
Collection upto Feb'23 Rs. 50,00,000 Collection in Mar'23 Rs. 20,00,000
So TCS U/s 206CR in Mar'23 should be 0.1% of Rs. 20,00,000 (Collection exceeding 50 Lacs) = Rs. 2,000/- or 0.1% of Rs. 60,00,000 (Sales exceeding 50 Lacs) = Rs. 6,000/-