Regarding 206c (1h) applicability
This query is : Resolved
02 February 2023
Hello, is tcs under section 206c (1h) applicable if turnover of 10 cr exceeds in the current financial year?
02 February 2023
No, but check it for preceding year.
As per the explanation to Section 206C (1H), "a Seller shall be a person whose total sales, gross receipts or turnover exceeds ₹ 10 crore in the immediately preceding financial year in which the transaction takes place."
As per the explanation to Section 206C (1H), "a Seller shall be a person whose total sales, gross receipts or turnover exceeds ₹ 10 crore in the immediately preceding financial year in which the transaction takes place."
02 February 2023
Thank You Sir, the seller did not exists in the previous year i.e fy 2021-22
02 February 2023
In that case the TDS section will apply in next FY, but not applicable in current FY.
02 February 2023
ok sir, thank you very much
02 February 2023
Most welcome..
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