https://www.taxtmi.com/forum/issue?id=116956 TCS on sales is triggered on receipt of sale consideration under the Income Tax regime, not on invoicing; taxpayers who charge TCS in invoices must reconcile amounts invoiced with amounts actually collected and disclose uncollected TCS in the balance sheet, depositing it when payment is received. If the statutory TCS rate changes between invoice date and collection date, the collector must collect and remit the rate differential on receipt. en-us Fri, 08 Jan 2021 12:36:29 +0530 Thu, 23 Jan 2025 15:54:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116956 TCS on sales is triggered on receipt of sale consideration under the Income Tax regime, not on invoicing; taxpayers who charge TCS in invoices must reconcile amounts invoiced with amounts actually collected and disclose uncollected TCS in the balance sheet, depositing it when payment is received. If the statutory TCS rate changes between invoice date and collection date, the collector must collect and remit the rate differential on receipt. Discussion-Forum Income Tax Fri, 08 Jan 2021 12:36:29 +0530 https://www.taxtmi.com/forum/issue?id=116956