Section 194O

TDS on e-commerce transaction – Section 194O

Income Tax - Q. 1 The newly enacted section 194O of Income tax Act, 1961 TDS on which entities and what goods and services ? Every E-commerce operator (like Amazon, Facebook, Flipkart, Snapdeal etc.) is required to make TDS on payments due to ‘e-commerce participants’ i.e., suppliers ( who are resident in India) on sale of goods or [&helli...

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TDS on payment by one e-commerce operator to another

Income Tax - Section 194O of Income-tax Act, 1961 – TDS on payment by one e-commerce operator to another e-commerce operator In order to widen and deepen the tax net by bringing participants of e-commerce within tax net, vide the Finance Act No. 12 of 2020, the Government of India has inserted a new section 194-O in the […]...

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Section 194O TDS on E-commerce Operator- Analysis

Income Tax - 1) Who is responsible to deduct TDS under section 194O? 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 Operator and E-commerce Parti...

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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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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 e-commerce transaction – Section 194O

Q. 1 The newly enacted section 194O of Income tax Act, 1961 TDS on which entities and what goods and services ? Every E-commerce operator (like Amazon, Facebook, Flipkart, Snapdeal etc.) is required to make TDS on payments due to ‘e-commerce participants’ i.e., suppliers ( who are resident in India) on sale of goods or [&helli...

Read More
Posted Under: Income Tax |

TDS on payment by one e-commerce operator to another

Section 194O of Income-tax Act, 1961 – TDS on payment by one e-commerce operator to another e-commerce operator In order to widen and deepen the tax net by bringing participants of e-commerce within tax net, vide the Finance Act No. 12 of 2020, the Government of India has inserted a new section 194-O in the […]...

Read More
Posted Under: Income Tax |

Section 194O TDS on E-commerce Operator- Analysis

1) Who is responsible to deduct TDS under section 194O? 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 Operator and E-commerce Parti...

Read More
Posted Under: Income Tax |

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...

Read More
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....

Read More

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 ...

Read More

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....

Read More
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...

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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 |

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