TDS OR TCS
This query is : Resolved
25 July 2021
HELLO SIR
MAI EK MEDICINE WHOLE SELLER HU OR MERA TURNOVER LAST YEAR 10 CRORE SE KAM THA BUT MERI PURCHASE KUCH COMPANY SE YEARLY 50 LAC SE JYADA HAI TOH MUJHE TDS KATANA HAI YA NAHI YA JIN COMPANIES SE PURCHASE 50 LAC SE JYADA HAI WOH TCS KAATEGI. MAI ITR SAMAY PAR HAR SAAL BHARTA HU. PLEASE CLEAR.
MAI EK MEDICINE WHOLE SELLER HU OR MERA TURNOVER LAST YEAR 10 CRORE SE KAM THA BUT MERI PURCHASE KUCH COMPANY SE YEARLY 50 LAC SE JYADA HAI TOH MUJHE TDS KATANA HAI YA NAHI YA JIN COMPANIES SE PURCHASE 50 LAC SE JYADA HAI WOH TCS KAATEGI. MAI ITR SAMAY PAR HAR SAAL BHARTA HU. PLEASE CLEAR.
25 July 2021
TCS applicable to you as your last year turnover is less than 10crore.
26 July 2021
Since your turnover for last year is less than ₹10cr, TDS u/s 194q is NOT applicable to you for this year even if the purchase value is >₹50 lacs during this year.
Your customers would collect TCS from you if their turnover is >₹10cr during last year and receipts from you to them are >₹50 lacs during this year.
Your customers would collect TCS from you if their turnover is >₹10cr during last year and receipts from you to them are >₹50 lacs during this year.
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