Based on this initial interpretation finance and operations apps provided functionality for the first option. However, some scenarios didn't comply with the intended law.To clarify the applicability of the new TCS provisions, the CBDT issued circular no. 17, dated September 30,...
ApplicabilityTDS is deducted from contractors’ payments, professional fees, commission, salary, rent, brokerage, interest, etc.TCS is collected on the sale of specified goods mentioned above. If the process of depositing TCS and filing returns seemed long and annoying, don’t worry. You’re not...
As per section 52 of CSGT Act, the TCS is to be collected by the e-commerce operator with respect to taxable supplies made through their portal by other suppliers, where the consideration in respect of such supplies is collected by him. Thus, the applicability for TCS collection depends upon...
Applicability – This Agreement, including all attachments contained herein by reference, constitutes the entire agreement between the parties with respect to the subject matter hereof, and supersedes and replaces all prior and existing understandings or agreements, whether made in writing or orally, in...
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 ...
Based on this initial interpretation finance and operations apps provided functionality for the first option. However, some scenarios didn't comply with the intended law. To clarify the applicability of the new TCS provisions, the CBDT issued circular no. 17, dated September 30, ...