In 2020-2021 sale was above 10 crore, then tcs was deposited
Now in 2021-2022, sale is less than 10 crore, is it mandatory to deposite tcs on bills above 50 Lac??
4 Replies
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 09 April 2022
TCS is required to be collected u/s 206C(1H) in FY 2021-22 because your turnover was more than Rs. 10 crores in FY 2020-21.
Further, if your turnover remains less than Rs. 10 crores in FY 2021-22 then no TCS is to be collected in FY 2022-23.
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