Thread on TCS FOR FY 20-21 END AND TCS FOR FY 21-22 START- VERY IMPORTANT
>>>>Action required for TCS on Sale of Goods for Financial Year 2020-21
>Note- TCS was made applicable to those whose FY 19-20 Turnover was Crossing 10 cr
a. In case, you are liable to collect TCS after 01-10-2020 for sales of goods, then for march month ,ensure to pay TCS by 7th April 2021 for Q4. (not 30th april)
The due date for TCS return is 15-5-2021 ( not 31st may)
b. Also check your books of Accounts , From 1-10-2020, If you have not collected or short collected from the customer then You need to Reconcile with books and Pay the difference before 7th April 2021 and File TCS return before 15-5-2021.. Rate was 0.075% till March.