Category: Income Tax

TCS on Sale of Motor Vehicles and Luxury Goods – Section 394(1) (206C(1F))

The provisions relating to collection of tax at source on sale of specified high-value goods have been restructured under the Income-tax Act, 2025. The earlier Section 206C(1F) of the Income-tax… Read more »

TCS on Sale of Specified Goods – Section 394(1) (206C(1))

The provisions relating to collection of tax at source on specified goods have been restructured under the Income-tax Act, 2025. The earlier Section 206C(1) of the Income-tax Act, 1961 is… Read more »

TCS on Toll Plaza, Parking Lot and Mining Contracts – Section 394(1) (206C(1C))

The provisions relating to collection of tax at source on specified contracts such as toll plazas, parking lots, and mining activities have been restructured under the Income-tax Act, 2025. The… Read more »

Higher Rate of TDS for Non-Furnishing of PAN – Section 397(2) (206AA & 206CC)

The provisions relating to higher deduction or collection of tax at source in cases where Permanent Account Number (PAN) is not furnished have been restructured under the Income-tax Act, 2025…. Read more »

TDS on Virtual Digital Assets – Section 393(1) (194S)

The provisions relating to TDS on transactions involving virtual digital assets have been restructured under the Income-tax Act, 2025. The earlier Section 194S of the Income-tax Act, 1961 is now… Read more »

Understanding TDS on Purchase of Goods – Section 393(1) (194Q)

The provisions relating to TDS on purchase of goods were introduced to track high-value transactions and have now been incorporated under the Income-tax Act, 2025 as Section 393(1) [Table: Sl…. Read more »