If one person is running sole proprietorship business and he sold scrap for 45000 in previous month...
And person is not liable for tax audit.
Is there requirement of TCS in this case???
3 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 21 June 2018
No need if he is not under Tax Audit...
CA S Praveen Kumar Reddy
(Chartered Accountant)
(2195 Points)
Replied 21 June 2018
Not required to deduct TCS.....
CA ABHAY GUPTA
(Practice)
(3230 Points)
Replied 22 June 2018
tcs on scrap sale is required to be collected in the case when person is liable for tax audit nd the sale of scrap is made to person who used the good in manufacturing process
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