Applicability of TCS where the bill amount is exceeding Rs. 2 lakhs and when part of the bill is paid in cash and part through cheque

Applicability of TCS where the bill amount is exceeding Rs. 2 lakhs and when part of the bill is paid in cash and part through cheque - CBDT clarifies https://www.taxtmi.com/circulars?id=54610 Tax collection at source is triggered only when the cash component of a sale exceeds the statutory threshold. The seller must collect TCS only on the cash portion; where cash received is below the threshold no TCS is collectible even if total consideration exceeds the threshold, and where cash exceeds the threshold TCS applies solely to that cash amount. en-us Fri, 24 Jun 2016 00:00:00 +0530 Mon, 22 Apr 2024 12:19:00 +0530 TaxTMI RSS Generator Applicability of TCS where the bill amount is exceeding Rs. 2 lakhs and when part of the bill is paid in cash and part through cheque - CBDT clarifies https://www.taxtmi.com/circulars?id=54610 Tax collection at source is triggered only when the cash component of a sale exceeds the statutory threshold. The seller must collect TCS only on the cash portion; where cash received is below the threshold no TCS is collectible even if total consideration exceeds the threshold, and where cash exceeds the threshold TCS applies solely to that cash amount. Circulars Income Tax Fri, 24 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54610