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CBDT Income Tax PAN TCS TDS

Section 194Q – TDS on Purchase of Goods

Applicability: This shall be effective 1st July’21 TDS Rate: 0.1% on amount exceeding Rs 50L 5% if PAN is not furnished When to Deduct? Assessee deducts while paying for the goods purchased Aggregate value of goods purchased exceeds Rs.50L in the previous year Deduction by Whom? Tax shall be deducted by the buyer whose total […]

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CBDT Income Tax PAN TCS TDS

Section 194Q – TDS on Purchase of Goods (Union Budget 2021)

Applicability: This shall be effective 1st July’21 TDS Rate: 0.1% on amount exceeding Rs 50L 5% if PAN is not furnished When to Deduct? Assessee deducts while paying for the goods purchased Aggregate value of goods purchased exceeds Rs.50L in the previous year Deduction by Whom? Tax shall be deducted by the buyer whose total […]

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Income Tax PAN TCS TDS Traces

Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021

Section 194Q – TDS on Purchase of Goods limits the scope and applicability of the Section 206C(1H) – TCS on Sale of Goods as the Second Proviso to Section 206C(1H) states that if the buyer deducts tax as per any other provision on the goods purchased by him, no tax shall be collected on the same […]

Categories
Income Tax PAN TCS TDS Traces

Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021

Section 194Q – TDS on Purchase of Goods limits the scope and applicability of the Section 206C(1H) – TCS on Sale of Goods as the Second Proviso to Section 206C(1H) states that if the buyer deducts tax as per any other provision on the goods purchased by him, no tax shall be collected on the same […]

Categories
Income Tax PAN TCS TDS Traces

Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021

Section 194Q – TDS on Purchase of Goods limits the scope and applicability of the Section 206C(1H) – TCS on Sale of Goods as the Second Proviso to Section 206C(1H) states that if the buyer deducts tax as per any other provision on the goods purchased by him, no tax shall be collected on the same […]

Categories
Income Tax PAN TCS TDS Traces

Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021

Section 194Q – TDS on Purchase of Goods limits the scope and applicability of the Section 206C(1H) – TCS on Sale of Goods as the Second Proviso to Section 206C(1H) states that if the buyer deducts tax as per any other provision on the goods purchased by him, no tax shall be collected on the same […]

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