01 October 2017
In this purchase Truck has been purchased from Truck supplier showroom so that in this case what will be accounting treatment for Truck supplier showroom. Is Truck suppler will come in picture in books of accounts?
01 October 2017
Suppler bill there is TCS has been charged by Truck supplier. Under which rule they have been charged TCS. This TCS shall be claimed during Tax audit?
01 October 2017
01. yes, the same can be claimed while filing your income tax return. 02. Please ask the said supplier to give the certificate of TCS, so that you can find out the section under which TCS has been done.
01 October 2017
As per Sec 206 C “ Every person, being a seller, who receives any amount as consideration for sale of a motor vehicle of the value exceeding ten lakh rupees, shall at the time of receipt of such amount, collect from the buyer, a sum equal to one percent of the sale consideration as income tax.
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