TCS ON INTEREST SECTION
AND RATE OF INTEREST OF TCS
Where total turnover is more than Rs.10 crores in the previous financial year and receives sale consideration of any products of more than Rs. 50 lakhs, such seller must collect TCS upon receiving consideration from the buyer on such amount over and above Rs.50 lakhs, , as per Section 206C(IH).
(Without PAN, then 1% is TCS)
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