Section 194O

TDS on Payment by E-Commerce Operator To E-Commerce Participant

Income Tax - TDS ON PAYMENT OF CERTAIN SUMS BY E-COMMERCE OPERATOR TO E-COMMERCE PARTICIPANT SUMMARY (SECTION 194-O) Inserted from: 01-10-2020 S. No Basis Description (i) Nature Section 194-O Overrides provisions of Section 192 to Section 206AA of the Act. (i.e., No Deduction Under any other section) (ii) Deductor E-Commerce Operator shall be deemed t...

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TDS obligations for Purchases of Goods in India

Income Tax - 1. Applicability of the TDS provisions @ 0.1% (i) It’s applicable from 1st July 2021 against the purchases of goods from Indian resident seller. (ii) It’s applicable where purchaser is purchasing of goods from Indian resident seller for minimum of Rs. 50 Lakhs during the Financial year (FY) ending on March 31, 2022 and also […]...

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Taxation of E-Commerce Transactions in Income Tax & GST with Examples

Income Tax - There are many taxation provisions affecting the E-Commerce transactions in Income Tax as well as GST. The government is introducing various sections in both the taxation regimes, that is Direct and Indirect Tax so as to evade non-taxation of the transactions and obtaining tax benefit....

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Recent guidelines under Section 194O(4); Section 194Q(3) and Section 206C(1H)

Income Tax - Recently, vide circular no. 20 of 2021 dated 25th November 2021, the Central Board of Direct Taxes has come up with various important clarifications on number of issues relating to provisions of section 194O(4); section 194Q(3) and section 206C(1H). The same is analyzed and explained in the current article. Briefs of all the three relevan...

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TDS on purchase of goods under Section 194Q (Circular No. 13 of 2021)

Income Tax - TDS on purchase of goods under Section 194Q (Circular No. 13 of 2021) Article covers Section 194Q- TDS on Purchase of Goods. ( Clarifying Guideline ), Section 206C(1H) – TCS on sale of Goods, Section 206AB/206CCA – Higher TDS/TCS Rate For Non Filer of Income Tax Return and Section 194O – TDS on Payments Made […]...

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Calcutta HC directs CBDT to dispose Representation made U/s 194O

Mjunction Services Ltd. Vs Union of India (Calcutta High Court) - Mjunction Services Ltd. Vs Union of India (Calcutta High Court) HC directs CBDT to dispose the representation made U/S 194O: A single judge bench of the Calcutta High court on hearing the writ petition filed by the Mjunction Services Ltd.directed the Central Board of Direct Taxes (CBDT) to consider ...

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Guideline on TDS/TCS under Section 194O, section 194Q & Section 206C

Circular No. 20/2021-Income Tax - (25/11/2021) - Guidelines under sub-section (4) of section 194-0, sub-section (3) of section 194Q and sub­section (1-I) of section 206C of the Income-tax Act, 1961...

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CBDT clarifies doubts on account of new TCS provisions

Release ID: 1660392 - (30/09/2020) - Finance Act, 2020 amended provisions relating to TCS with effect from 1st October, 2020 to provide that seller of goods shall collect tax @ 0.1 per cent (0.075% up to 31.03.2021) if the receipt of sale consideration from a buyer exceeds Rs. 50 lakh in the financial year....

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TDS under Section 194O- CBDT issues Guidelines

Circular No. 17 of 2020-Income Tax - (29/09/2020) - Finance Act, 2020 inserted a new section 194-0 in the Income-tax Act 1961 which mandates that with effect from 1st day of October, 2020, an e-commerce operator shall deduct income-tax at the rate of one per cent (subject to the provisions of proposed section 197B of the Act) of the gross amount of s...

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Recent Posts in "Section 194O"

TDS on Payment by E-Commerce Operator To E-Commerce Participant

TDS ON PAYMENT OF CERTAIN SUMS BY E-COMMERCE OPERATOR TO E-COMMERCE PARTICIPANT SUMMARY (SECTION 194-O) Inserted from: 01-10-2020 S. No Basis Description (i) Nature Section 194-O Overrides provisions of Section 192 to Section 206AA of the Act. (i.e., No Deduction Under any other section) (ii) Deductor E-Commerce Operator shall be deemed t...

Read More
Posted Under: Income Tax |

TDS obligations for Purchases of Goods in India

1. Applicability of the TDS provisions @ 0.1% (i) It’s applicable from 1st July 2021 against the purchases of goods from Indian resident seller. (ii) It’s applicable where purchaser is purchasing of goods from Indian resident seller for minimum of Rs. 50 Lakhs during the Financial year (FY) ending on March 31, 2022 and also […]...

Read More
Posted Under: Income Tax |

Taxation of E-Commerce Transactions in Income Tax & GST with Examples

There are many taxation provisions affecting the E-Commerce transactions in Income Tax as well as GST. The government is introducing various sections in both the taxation regimes, that is Direct and Indirect Tax so as to evade non-taxation of the transactions and obtaining tax benefit....

Read More
Posted Under: Income Tax |

Recent guidelines under Section 194O(4); Section 194Q(3) and Section 206C(1H)

Recently, vide circular no. 20 of 2021 dated 25th November 2021, the Central Board of Direct Taxes has come up with various important clarifications on number of issues relating to provisions of section 194O(4); section 194Q(3) and section 206C(1H). The same is analyzed and explained in the current article. Briefs of all the three relevan...

Read More
Posted Under: Income Tax |

Guideline on TDS/TCS under Section 194O, section 194Q & Section 206C

Circular No. 20/2021-Income Tax 25/11/2021

Guidelines under sub-section (4) of section 194-0, sub-section (3) of section 194Q and sub­section (1-I) of section 206C of the Income-tax Act, 1961...

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Calcutta HC directs CBDT to dispose Representation made U/s 194O

Mjunction Services Ltd. Vs Union of India (Calcutta High Court)

Mjunction Services Ltd. Vs Union of India (Calcutta High Court) HC directs CBDT to dispose the representation made U/S 194O: A single judge bench of the Calcutta High court on hearing the writ petition filed by the Mjunction Services Ltd.directed the Central Board of Direct Taxes (CBDT) to consider and dispose the representation regarding...

Read More

TDS on purchase of goods under Section 194Q (Circular No. 13 of 2021)

TDS on purchase of goods under Section 194Q (Circular No. 13 of 2021) Article covers Section 194Q- TDS on Purchase of Goods. ( Clarifying Guideline ), Section 206C(1H) – TCS on sale of Goods, Section 206AB/206CCA – Higher TDS/TCS Rate For Non Filer of Income Tax Return and Section 194O – TDS on Payments Made […]...

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Posted Under: Income Tax |

Interplay of Section 194O, Section 194Q & Section 206C(1H)

Circular No.13 dated 30th June 2021 issued by Central Board of Direct Taxes gave the Guidelines under Section 194Q of Income Tax Act, 1961. The CBDT Circular also covers the linkage between Sections 194Q, 194-O and 206C(1H). 194-O is tax deduction at source by ecommerce operator, the rate is 1.0% and it has come into […]...

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Posted Under: Income Tax |

Section 194O TDS on E-commerce Operator- Analysis

1) Who is responsible to deduct TDS under section 194O of Income Tax Act, 1961? Any person, being E-commerce operator facilitating sale of goods or provision of services of an E-commerce Participant through its digital or electronic Facility or platform (by whatever name called). 2) Is there any definition for E-commerce, E-commerce Oper...

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Posted Under: Income Tax |

TDS Rate Chart for FY 2021-22 / AY 2022-23 – Updated

Income Tax TDS Rate Chart for for Financial Year (FY) 2021-22 / Assessment Year (AY) 2022-23 The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. […]...

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Posted Under: Income Tax | ,

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