Tcs for scrap

This query is : Resolved

Shah Devang S. (Querist)
Follow

02 April 2014 a Pvt. Ltd. Company sales scrap to Individual - resident which rate applicable TCS charges

1. if individual provide Pan Card or If he is not provide Pan Card which rate applicable for TCS Charge by Company in invoice.

2. Can a company made Cash base invoice and charge TCS ? if company sales invoice make cash base (not a any person) which rate are applicable any required Pan Card at the TCS return upload

CA MAHAVIR PARSAD GUPTA

CA MAHAVIR PARSAD GUPTA (Expert)
Follow

03 April 2014 if a private limited company sale scrap to individual co. has to collect TCS @ 1%. the condition of 20% on not submission of pan reffered to in sec 206 AA is not applicable on TCS. provision of sec 206AA is applicable on chapter XVIIB only and TCS is falling under chapter XVIIBB.

in any case tcs is applicable @ 1% if individual provide pan card or not.