Tag: Section 206CC

Section 206C(1G): TCS on Foreign Remittances and Tour Packages

Section 206C(1G) of the Income Tax Act, 1961 mandates tax collection at source on specified foreign transactions. It applies when an authorized dealer receives funds for remittance under the Liberalized… Read more »

Section 206C(1) of the Income Tax Act: Tax Collection at Source (TCS)

Section 206C(1) of the Income Tax Act, 1961 mandates the collection of tax at source (TCS) by sellers related to specific goods. It applies at the time of debiting the… Read more »