Section 206C(1H)- TCS on Sale of Goods more than specified limit

कोई भी व्यक्ति जो विक्रेता है यदि किसी अन्य व्यक्ति (क्रेता) से प्रतिफल के रूप में कोई राशी प्राप्त करता है और यदि किसी भी वित्तीय वर्ष में राशी 50 लाख रुपये से अधिक होती है तो उक्त विक्रेता को राशी प्राप्त करते समय विक्रय प्रतिफल का 0.1% क्रेता से TCS के रूप में संग्रह करना होगाI

अन्य महत्वपूर्ण बिंदु :-

1) यह प्रावधान किसी भी विक्रेता पर केवल तब ही लागू होगा जब उक्त विक्रेता का पिछले वित्तीय वर्ष में बिक्री 10 करोड़ या उससे अधिक होI

2) यह प्रावधान प्रत्येक व्यक्ति पर लागू होता है चाहे वह कंपनी, HUF, साझेदारी फर्म, ट्रस्ट या अन्य कोई व्यक्ति होI

3) यदि किसी व्यक्ति का पैन उपलब्ध नहीं है तो उक्त दशा में TCS की दर 5% रहेगी I

4) क्रेता शब्द की परिभाषा में Central Government, State Government, Embassy, High Commission, Local Authority और अन्य जिन्हें central government ने notify किया है उन्हें सम्मिलित नहीं किया जाएगाI

5) यदि किसी transaction पर आयकर अधिनियम के किसी अन्य प्रावधान के कारण TDS का दायित्व आता है तो उस transaction पर यह धारा लागू नहीं होगीI

Section 206C(1H)

TCS on Sale of Goods more than specified limit

Every person, being a seller, who receives any amount as consideration for sale of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year than at the time of receipt of such amount, collect from the buyer, a sum equal to 0.1% of the sale consideration exceeding fifty lakh rupees as income-tax.

Other Important Points:-

1. This provision will apply only if turnover of seller is more than Rs. 10 crore in the previous financial year.

2. Provisions of this section will be applicable on every person whether Individual, HUF, Company, Partnership Firm, Trust etc.

3. If PAN is not available than rate of TCS will be 5% instead of 0.1%.

4. Term buyer will not include Central Government, State Government, Embassy, High Commission, Local Authority and others who are specifically exempted by Central Government.

5. If any transaction is already covered by any provision of TDS than this section will not apply.

Due Date for Deposit of Tax and Other Compliance

1. TCS so collected is to be deposited on monthly basis on or before 7th of Next Month.

2. Filing of return of TCS on quarterly basis on or before 15th of subsequent quarter. (in case of quarter ending on 31st March due date for filing return will be 31st May)

3. Issue TCS certificate in form 27D within 15 days from filing of return in Form 27EQ.

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September 2021