TCS applicability on sale of goods to AIIMS

Page no : 2

Lotus Agrawal (Practice) (1361 Points)
Replied 09 May 2021

It's okay. Happens. No problem.

1 Like

sandeep sharma (29 Points)
Replied 09 May 2021

We forgot to deduct TCS from 1st oct 2020 to 31st march 2021. so, should we deduct TCS in next month april 2021?

CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 09 May 2021

Yes you can but Interest will be imposed

Lotus Agrawal (Practice) (1361 Points)
Replied 09 May 2021

In audit point of view you have to collect tcs now for 1st oct 20-31st mar 21. but in this case interest and late fees shall also be levied.

sandeep sharma (29 Points)
Replied 09 May 2021

We will start to collect TCS from 2021-22 onward. is it ok?

Lotus Agrawal (Practice) (1361 Points)
Replied 09 May 2021

In audit point of view you have to collect tcs now for 1st oct 20-31st mar 21. but in this case interest and late fees shall also be levied.

sandeep sharma (29 Points)
Replied 09 May 2021

We will start to collect TCS from 2021-22 onward. is it ok?

Lotus Agrawal (Practice) (1361 Points)
Replied 09 May 2021

Yeah. this is mandatory.

sandeep sharma (29 Points)
Replied 09 May 2021

Thank you everyone for your valuable guidance.

CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 09 May 2021

Yes TCS should be collected it's mandatory.. Your welcome

Lotus Agrawal (Practice) (1361 Points)
Replied 09 May 2021

Your welcome.

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