Am a traders. am buying scrap from manufacturer with TCS and Traders without TCS.
Am selling the scrap to end user company.
before I didn't collect TCS. shall I must collect TCS. its compulsory?
4 Replies
Ashiwini Ballodia
(Managing Partner at TAXounting)
(8737 Points)
Replied 29 June 2018
As per me you are not required to deduct TCS because for you it is not a scrap
CA ABHAY GUPTA
(Practice)
(3230 Points)
Replied 29 June 2018
yes you are not selling scrap thus tcs not applicable
Prem kumar
(accountant)
(40 Points)
Replied 29 June 2018
am buying some traders they have collected tcs so can u send the income tax rule
Ashiwini Ballodia
(Managing Partner at TAXounting)
(8737 Points)
Replied 30 June 2018
As per me you are not required to deduct TCS because for you it is not a scrap
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