In the case of TCS on sales of goods, TCS will be deducted based on PANs. If multiple customers have the same PAN, all transactions by those customers will be accumulated and compared to the threshold that is prescribed by the government. You can also accumulate the purchase ...
Any person or HUF who is subjected to an audit of accounts under the Income-tax Act for a particular financial year. Classification of Buyers for TCS Abuyermaypurchasegoodsdirectlyfromtheseller,orthroughanintermediarysuchasawholesaler,aretailer,oranonlineplatform.Theymayalsopurchasegoodsbybiddingonthemata...
TCS (Tax Collected at Source) is the tax that a seller collects from the buyer during the sale of specific goods under provision 206C, or any other goods on the basis of realisation. TallyPrime not only supports the latest budget changes for TCS but also provides you with a comprehensive ...
Ensure the TCS Nature of Goods selected in the stock item is set to Any/Undefined/is same as that of the sales, GST and TCS ledgers. Enter the Quantity and Rate. Select the income ledgers. Ensure these ledgers are enabled for GST and TCS applicability. Note: If you want to select a ...
In the case of TCS on sales of goods, TCS will be deducted based on PANs. If multiple customers have the same PAN, all transactions by those customers will be accumulated and compared to the threshold that is prescribed by the government. You can also accumulate the purc...