Section 194O

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 {Section 194-O of Income Tax Act, 1961} Section 194-O of Income Tax Act, 1961 is introduced w.e.f. 01-10-2020. According to that, where sale of goods or provision of services of an e-commerce participant is facilitated by an e-commerce operator through its dig...

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Section 196 versus Section 194O of Income Tax Act, 1961

Income Tax - Whether by virtue of the provisions of Section 196, can TDS under Section 194O be avoided in case the seller or the service provider is the Government....

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Section 194O- Difficult to implement & Inconsistent with Section 198

Income Tax - REPRESENTATION BEFORE MINISTRY OF FINANCE W.R.T. EXPLANATION TO SEC 194-O: BEING DIFFICULT TO IMPLEMENT AND  INCONSISTENT WITH SECTION 198 OF INCOME TAX ACT The Finance Bill 2020 has introduced a new Section 194-O to mandate Electronic Commerce Operators for deducting TDS in respect of the amount payable to the seller on sale of goods an...

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Section 194O- TDS on Payments to E-commerce Participants WEF 01.10.2020

Income Tax - Section 194O has been introduced in Union Budget 2020 to widen the tax net by bringing the E-commerce participant within the tax net. According to Section 194O, an E-commerce operator is required to deduct tax for any Sale of Goods or providing services or both through an E-commerce participant. This Section will be applicable from [&hell...

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TDS on Payment by e-commerce operator wef 01.10.2020

Income Tax - TDS @ 1% on Payments made to E Commerce Participants by E Commerce Operator u/s. 194-O w.e.f. 01.10.2020 The Finance Act, 2020 has introduced a new Section 194-O for deducting 1% TDS on Payments made to E-Commerce Participants, which will be applicable for the transactions from 1st October 2020 onward. In brief, if any person […]...

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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"

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 {Section 194-O of Income Tax Act, 1961} Section 194-O of Income Tax Act, 1961 is introduced w.e.f. 01-10-2020. According to that, where sale of goods or provision of services of an e-commerce participant is facilitated by an e-commerce operator through its dig...

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Posted Under: Income Tax |

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 sale of goods or provision of service or ...

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Section 196 versus Section 194O of Income Tax Act, 1961

Whether by virtue of the provisions of Section 196, can TDS under Section 194O be avoided in case the seller or the service provider is the Government....

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Posted Under: Income Tax |

Section 194O- Difficult to implement & Inconsistent with Section 198

REPRESENTATION BEFORE MINISTRY OF FINANCE W.R.T. EXPLANATION TO SEC 194-O: BEING DIFFICULT TO IMPLEMENT AND  INCONSISTENT WITH SECTION 198 OF INCOME TAX ACT The Finance Bill 2020 has introduced a new Section 194-O to mandate Electronic Commerce Operators for deducting TDS in respect of the amount payable to the seller on sale of goods an...

Read More
Posted Under: Income Tax |

Section 194O- TDS on Payments to E-commerce Participants WEF 01.10.2020

Section 194O has been introduced in Union Budget 2020 to widen the tax net by bringing the E-commerce participant within the tax net. According to Section 194O, an E-commerce operator is required to deduct tax for any Sale of Goods or providing services or both through an E-commerce participant. This Section will be applicable from [&hell...

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Posted Under: Income Tax |

TDS on Payment by e-commerce operator wef 01.10.2020

TDS @ 1% on Payments made to E Commerce Participants by E Commerce Operator u/s. 194-O w.e.f. 01.10.2020 The Finance Act, 2020 has introduced a new Section 194-O for deducting 1% TDS on Payments made to E-Commerce Participants, which will be applicable for the transactions from 1st October 2020 onward. In brief, if any person […]...

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Posted Under: Income Tax |

Equalisation levy : Tax on Digital Transaction

As per section 165 of Finance Act. 2016, equalisation levy shall be charged at the rate of six percent on the amount of consideration for specified service received or receivable by non-resident from...

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Posted Under: Income Tax |

Critical Analysis of Section 194O of Income Tax Act, 1961

The provisions of section 194O are applicable to the 'resident E commerce participators' when they provide the provisions of service or Sale of goods through the intermediary E commerce operators who provide the digital platform/electronic platform to effectively facilitate the services of E-commerce participate....

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Posted Under: Income Tax |

Whimsical Explanation to Section 194O

Section 194O of the Income Tax Act, 1961 (Act), introduced by the Finance Act, 2020, effective from October 1, 2020 mandates the following, which warrants a definite relook into the provisions for appropriate amendments/deletions thereof :-...

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Posted Under: Income Tax |

TDS on E Commerce Transactions under Section 194O with effect from 01.10.2020

TDS on E Commerce Transactions under Section 194O with effect from 01st October 2020 Are you planning to start selling your products or providing service on e-commerce platforms or Are you E commerce participant i.e. currently selling your products or providing services on e-commerce platforms? If your answer is yes, then this article wi...

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Posted Under: Income Tax |

Equalisation Levy Vs TDS under Section 194O- An Interplay

E-Commerce is here to stay. If the pandemic wasn’t enough to impress this point, suspension of international travel, visa delays and immigration bans are only increasing adaptability to E-Commerce amongst the masses. Recognizing that electronic transactions have far reaching implications with respect to taxation, the Indian legislature ...

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Posted Under: Income Tax |

Impact of Section 194O on E commerce operator & participants

Tax deduction at source or Tax collected at source are the most convenient mode of tax collection by the government thus it is a tool to collect tax to minimize the tax evasion by taxing the income at the time when income generated and instead of taxing on a later date. A large number of […]...

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Posted Under: Income Tax |

TDS Rate Chart for Financial Year 2020-21

Simple TDS Rate Chart for Financial Year 2020-21 –  Applicable from 14th May 2020 Kindly Note amended rates are been given on the basis of PIB Notification dated 13.05.2020 and on the date of Publication of this post no notification in this regard is been notified by the CBDT. Press release can be accessed at […]...

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Posted Under: Income Tax |

TDS Rate Chart for FY 2020-21 / AY 2021-22 – Updated

TDS Rate Chart For Assessment year 2021-22 /Financial Year 2020-21 As we all are aware that yesterday our Honourable Finance Minister has conducted press release. In that press release she declared that The TDS rates for all non-salaried payment to residents, and tax collected at source rate will be reduced by 25 percent of the […]...

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Is Digital Service becoming costlier with new Equalisation Levy norms

Meanwhile in 2016, India had introduce tax in form of Equalisation levy only for advertisement service rendered by non resident (likes of FB, twitter, etc) to resident of India which is extended now to other E-Commerce operator for host of service rendered to resident of India and in specified cases to non resident also....

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Posted Under: Income Tax |

TDS rate Changes vide Finance Act 2020

In Budget 2020, Government has made various amendment either changes in existing TDS/TCS Rates or addendum new TDS/TCS Rates, A.Y 2021-22 TDS Rates  Chart (Specific to Changes in Budget) Changes in Existing Rate Sr.No Nature of Payment Section Limit          TDS Rate for         Ind. and HUF Other than Ind. and HUF If [&hell...

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Posted Under: Income Tax |

TDS Provisions related to Small Businesses & Covid 19 Relief

TAX DEDUCTION AT SOURCE (TDS) In order to ensure better tax compliance and ensuring the timely payment of tax to the Government treasury, a mechanism has been established by making it mandatory for certain persons responsible for making payment of some expenses to deduct tax from such payment and deposit it to the Government account. [&he...

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Posted Under: Income Tax |

Counter stroke on dark side of e-commerce (Tax Evasion)

E-commerce is the activity of electronically buying or selling of products on online services or over the Internet. The history of e-commerce begins with the first ever online sale: on the August 11, 1994 a man sold a CD by the band Sting to his friend through his website NetMarket, an American retail platform. This […]...

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Posted Under: Income Tax |

TDS under Section 194O of Income Tax Act, 1961

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 ...

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Posted Under: Income Tax |

TDS provisions as amended vide Finance Act, 2020

Article explains Amendments as passed by The Finance Act, 2020 on 27 March 2020 viz viz Amendments as introduced by The Finance Bill, 2020 on 1 February 2020 related to Section 194A and SECTION 197A by which Central Government Is Empowered To Provide For A Lower Rate Of TDS, Section 194J related to TDS In […]...

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Posted Under: Income Tax |

Amendments in TDS/TCS applicable from FY 2020-21

Amendments in the Provisions of of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) applicable from Assessment Year  2021-22 (i.e Financial year 2020-21) Through the Finance Act 2020 (which have received the assent of the President of India on 27th March 2020), the Central Government has made various amendments to existing ...

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Understanding New Equalisation Levy & TDS on e-Commerce Transactions with Practical Illustrations

Understanding New Equalisation Levy & TDS on e-Commerce Transactions with Practical Illustrations Section 163 to 172 of ‘CHAPTER VIII OF THE FINANCE ACT, 2016- EQUALISATION LEVY’ deals with Equalisation levy definition, interest, penalty, filing of the annual statement, the penalty for failure to furnish statements. 1....

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Posted Under: Income Tax |

Section 194O TDS on payments to e-commerce participants

Applicability of Section 194-O-TDS on payments made to e-commerce participants by e-commerce operators -Section 194-O shall be applicable on R & NR (Resident & Non-Resident) E-commerce operators making payment to resident e-commerce participants in relation to sale of goods or services facilitated through its digital or electronic...

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Posted Under: Income Tax |

Amendment to Finance Bill 2020 vide Finance Act, 2020

Amidst the COVID-19 outbreak and lockdown in various states, the Finance Bill 2020 ( Bill) introduced vide Union Budget 2020-21 was passed by both Houses of Parliament, with certain amendments. On 27 March 2020, the Bill has received President’s assent. Read-President Assents Finance Act, 2020 Key amendments by Finance Act , 2020 in Com...

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Posted Under: Income Tax |

Section 194O TDS by E-Commerce Operator

Section 194O TDS by E-Commerce Operator PROVISION When E-Commerce Operator provides its platform to E-Commerce participant for sale of goods or services or both then, E-Commerce operator must deduct 1% TDS at the time of credit of amount of sale of goods, service or both to the account of e commerce participant or at the […]...

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Posted Under: Income Tax |

TDS Rates for Financial Year 2020-21 & Assessment Year 2021-22

Article compiles TDS Rate Chart For Financial Year 2020-21 and Assessment Year 2021-22 along with Due date of Payment of TDS and mode of Payment of TDS. Article explains Section under which TDS is deductible and TDS Rate Applicable. Article Covers Change in TDS Applicable from 01.04.2020 which was proposed by Union BUdget 2020 which [&hel...

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Section 194O TDS on payment by e-commerce operators & aggregators

Central Government in order to widen and deepen the tax net by bringing participants of e-commerce within the ambit of tax, through the Union Budget 2020-21 has proposed to insert a new section ‘194O - Payment of certain sums by e-commerce operator to e-commerce participant’ with effect from Assessment Year beginning from April 1, 202...

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Posted Under: Income Tax |

Section 194O TDS on E Commerce Transactions

TDS on E Commerce Transactions under Section 194O  with effect from 01st April 2020 Are you planning to start selling your products or providing service on e-commerce platforms or Are you E commerce participant i.e. currently selling your products or providing services on e-commerce platforms? If your answer is yes, then this article wil...

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Posted Under: Income Tax |

Section 194O TDS on E-Ccommerce operator- FAQs

Budget 2020- FAQs on Proposed TDS under Section 194O on E-commerce Operator (w.e.f. 01/04/2020) 1. Who is responsible to deduct TDS under section 194O? Any person, being E-commerce operator facilitating sale of good or provision of services of an E-commerce Participant through its digital or electronic Facility or platform (by whatever na...

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Posted Under: Income Tax |

Budget 2020- Demystifying hidden elements behind Budget Speech

Hello everyone, hope you all are doing well. This blog focuses on exploring the unknown elements of the Union Budget 2020-21 and analyses impact of proposed changes in Tax on Indian economy. Nirmala Sitharaman (Finance Minister (FM)) played very safely in his debut budget last time and kept distance from crucial issues to serve justice [&...

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Section 194O TDS on certain Payment by e-commerce operator

Section 194O: Deduction of TDS on Payment of certain sums by e-commerce operator (Amazon/Flipkart) to e-commerce participant  In order to widen the Tax base FM announced that E-commerce operator (Amazon/Flipkart etc) which facilitate sale of good/services through their digital platform required to deduct TDS at 1% on GROSS AMOUNT OF SUCH...

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Posted Under: Income Tax |

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