Tcs, tds query
saurabh gupta (72 Points)
16 July 2021
Sir my last year turnover was 10 crores and i pay Tcs on my purchase. So do I also have to deduct TDS on payment above 5000000?
3 Replies
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 16 July 2021
Yes.
April to June -2021 -Turnover is above 50 Lakhs -TDS Deduction Applicable @ 0.01% From July 1st.
April to June -2021 -Turnover is above 50 Lakhs -TDS Deduction Applicable @ 0.01% From July 1st.
prasad Nilugal
(3914 Points)
Replied 16 July 2021
TCS will be deducted by seller and TDS will be by Buyer .
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 16 July 2021
Yes TDS should be deducted
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