TCS RETURN(Urgent)
Anmol Singla (808 Points)
28 March 2021
While filing TCS Return for scrap, we need to enter tax collection date. What is the meaning of tax collection date?
10 Replies
Mohanraj J
(1178 Points)
Replied 28 March 2021
TCS Date, I.e. Date of TCS mentioned in the Invoice or Date of TCS Invoice Accounting Date
Anmol Singla
(808 Points)
Replied 28 March 2021
Actually bill was raised on 14/07/2020 and consideration was received on 18/07/2020,
I mentioned TCS collection date as 18/07/2020, as many professionals guide me like this.
is it wrong?
I mentioned TCS collection date as 18/07/2020, as many professionals guide me like this.
is it wrong?
Anmol Singla
(808 Points)
Replied 28 March 2021
Ok, further I want to know, what will be the tcs collection date, if I dont received payment till tcs collection date?
akshat sharma
(student)
(24 Points)
Replied 29 March 2021
It should be the date of generating invoice or payment made which ever is earlier.
Anmol Singla
(808 Points)
Replied 29 March 2021
It means if we charged tcs on bill, it will be considered as TCS Collection date, even no payment is received.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 29 March 2021
Date of Collection of Amount.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 29 March 2021
Actually the TCS is to be collect on amount of receipts not on billing. So whenever you receive the amount you have to collect TCS and same is required to be shown in TCS returns. If you have not received any sum then use date of billing as date of collection
Anmol Singla
(808 Points)
Replied 30 March 2021
Tcs on collection is receipt or payment whichever is earlier
Recent Topics
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
- Rectification to decrease income in SCHEDULE OS
- Can Statutory Auditor of a subsidiary become concu
- Client Asking for the Revised Invoice
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- GST registration for medical shop in Karnataka
Related Threads
CAclubindia
