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TCS & TDS applicable to FY 2021-22

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P V Gopal

Job

86 Points Posted on 06 April 2021

Till 31st March 2021, the TCS charged @ 0.75%, if INVOICE VALUE more than Rs. 10.00 Lacs

TDS deducted @ 3.75%

Could you please guide whether any change for FY 2021-22

Earlier, the TCS was @ 1.00% if the INVOICE VALUE more than Rs. 10.00 Lacs only

Later changed as if the TOTAL PURCHASE VALUE in a financial year crossed Rs. 50.00 Lacs, TCS @ 1.00% to be paid over and above Rs. 10.00 lacs

Is this clause still in force or repealed

Requesting to guide

Replies (1)

Aashok Kumar Sharma

Finance/Compliance Consultant

75644 Points Posted on 02 July 2026

Summary: For FY 2021-22, the TCS provision under Section 206C(1H) at a rate of 0.1% (for amounts exceeding ₹50 lakh) was active and not repealed. Additionally, from July 1, 2021, the TDS provision under Section 194Q became applicable for qualifying buyers, which effectively overrides the TCS requirement for those specific transactions.