Check whether Section 206C(1H) TCS applies to receipts from a buyer this year, and work out how much to collect.
TCS under 206C(1H) only applies once this crosses ₹10 crore.
Include today's receipt in the running total for this buyer.
Section 206C(1H)
Estimate only — doesn't account for interplay with Section 194Q TDS. Confirm with your CA.
A seller whose turnover crossed ₹10 crore in the preceding financial year must collect TCS at 0.1% on sale consideration received from a buyer once total receipts from that buyer cross ₹50 lakh in the current financial year — TCS applies only to the amount received above ₹50 lakh, not the whole receipt.
The rate rises to 1% if the buyer hasn't furnished their PAN. And if the buyer is already liable to deduct TDS on the purchase under Section 194Q (or any other provision), this TCS doesn't apply on top of it — the two aren't stacked.
This is an estimate for planning purposes — always confirm applicability and exact treatment with your Chartered Accountant.
Selling to the same buyer often?
Running receipt totals per party, so you know exactly when a buyer crosses the ₹50 lakh mark — no separate spreadsheet needed.
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