Sir.
We are supplier of marbles cut piece. In November month we have sold goods to one single party Rs.64 Lacs.in this case TCS is applicable on and in last financial year 2019-20 our Turn over is 5Crore
please suggest
1 Replies
Asif Shaikh
(80 Points)
Replied 26 December 2020
In a statement, the Central Board of Direct Taxes (CBDT) clarified that TCS shall be applicable only on the amount received on or after October 1, 2020 and a seller would be required to collect TCS only if his turnover exceeds Rs 10 crore in the last financial
Recent Topics
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
Related Threads
CAclubindia
