TCS on seller of goods as required under 206C(1H) and corresponding TDS by purchaser of goods as required u/s 194Q.

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Sachin asked 1 month ago

TCS on seller of goods as required under 206C(1H) is required are not after 31.3.2025. and the corresponding TDS by purchaser of goods as required u/s 194Q.
What are limit. are these section removed w.e.f. 1.4.2025

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Sunil answered 1 month ago

TCS are required under 206C(1H) is no longer applicable w.e.f. 1.4.2025. Hence seller is not required to collect any TCS on sale of goods. 
But TDS on purchase of goods as required under 194Q is still applicable and buyer is required to deduct TDS @ 0.1% if transaction in the current Fy is above 50 lakhs and if turnover of purchaser is above 10cr in preceding financial year. 
TCS rates for FY 2025-26. CLick here for more detail
 
 

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