Section 206c
vimugdha sharma (student) (70 Points)
27 June 2016
whether seller deduct tcs in follwing situation
goods sold on 25 may 2016 and cash payment received on 6.6.2016 .
1 Replies
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 30 June 2016
Helllo
Based on the reading of the provisions, it is inferred that, no liability arises to collect TCS; as event arises (Sale of Goods/Provision of Service) already before applicability of law, no need to collect tax at source along with amount received for sale consideration during the period, law became effective .
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