https://www.taxtmi.com/forum/issue?id=116685 TCS under section 206C(1H) is required where aggregate receipts from a buyer exceed the statutory threshold; TCS must be collected at the time of receipt on the amount exceeding the threshold. A lower prescribed rate applies when the buyer's valid identification is available and a higher rate applies where PAN/Aadhaar is not furnished. In the posed example, the seller is liable to collect TCS only on the subsequent receipts that constitute the excess over the threshold. en-us Tue, 01 Sep 2020 13:46:47 +0530 Thu, 23 Jan 2025 15:54:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116685 TCS under section 206C(1H) is required where aggregate receipts from a buyer exceed the statutory threshold; TCS must be collected at the time of receipt on the amount exceeding the threshold. A lower prescribed rate applies when the buyer's valid identification is available and a higher rate applies where PAN/Aadhaar is not furnished. In the posed example, the seller is liable to collect TCS only on the subsequent receipts that constitute the excess over the threshold. Discussion-Forum Income Tax Tue, 01 Sep 2020 13:46:47 +0530 https://www.taxtmi.com/forum/issue?id=116685