TaxTMI 
TaxTMI 
Dear Experts,
The limit of cash payment of ₹ 2 lakhs is for a particular transaction, or the aggregate of cash paid during the year for multiple transactions.
Thanks.
amendment of Sec. 206C
27 Jun 2016 
2 Replies 
1509 Views Asked by
TCS threshold on cash transactions applies per transaction; multiple small invoices are not aggregated to trigger TCS.
TCS applicability is determined on a per-transaction (invoice) basis: where the consideration for a single sale transaction exceeds the category-specific threshold and any part of that consideration is received in cash, TCS must be collected on the cash portion; multiple invoices each below the threshold are not aggregated to attract TCS. (AI Summary)
TCS applicability is determined on a per-transaction (invoice) basis: where the consideration for a single sale transaction exceeds the category-specific threshold and any part of that consideration is received in cash, TCS must be collected on the cash portion; multiple invoices each below the threshold are not aggregated to attract TCS. (AI Summary)