Hello All Respected Experts, Good Evening,
We have received payment on Dec Month (TCS also Collected) and Billed to Customer in Jan 2021.
We have deposit TCS challan on Basis of TCS Collection instead of Bill Issuance and Using RPU software for preparation of TCS return.
Please suggest can we show Payment received from Customer in December and Bill date of Jan, in TCS return of quarter ended Dec2020.
2 Replies
Sunil Prabhu
(14 Points)
Replied 13 January 2021
As per Income Tax Act TCS is to be paid to government after it is collected from customer. Hence reporting in TCS return will be on same basis
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
