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Mukul Aggarwal

Latest Posts by Mukul Aggarwal

TCS on sale of goods – Analysis on section 206C(1H)

April 29, 2020 32805 Views 8 comments Print

Section 206C(1H) – TCS on sales of goods – Introduced by Finance Act 2020 Background (Erstwhile provisions) Tax collected at source (TCS) is the tax payable by a seller which he collects from the buyer at the time of sale. Section 206C of the Income-tax act governs the goods on which the seller has to […]

TDS under Section 194O of Income Tax Act, 1961

April 28, 2020 10638 Views 0 comment Print

TDS Obligation on e-commerce operator under Section 194O of Income Tax Act, 1961 Expansion of WHT obligation to cover e-commerce transactions where e-commerce operator facilitates the transaction on e-commerce platform. Introduced by Finance Act, 2020 and applicable from 1 October 2020. Purpose In order to widen and deepen the tax net by bringing participants of […]

Equalisation Levy on e-commerce supply of goods/ services by non-residents

April 18, 2020 4113 Views 0 comment Print

Equalisation Levy (‘EL’) on e-commerce supply of goods/ services by non-residents A. Background of Equalisation Levy provisions –Equalisation Levy is a charge in addition to the Income-tax, which was introduced vide Finance Act, 2016. -Under the erstwhile provisions, Indian residents were required to deduct EL at the rate of 6 percent, while making payment to […]

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