Hi Team,
We have recently processed a booking for a tour to Europe, with a total billing amount of ₹5 lakhs. The invoice for this booking was raised in the name of an individual. As per my understanding, in this scenario, 5% TCS (Tax Collected at Source) is applicable.
In another similar case, the invoice was raised in the name of a company, and the payment was also received from the company’s account.
Could you please confirm the correct TCS and TDS (Tax Deducted at Source) implications for both these scenarios?
Thanks
Hemendra Negi
Looking forward to your guidance on this matter.
CAclubindia
