Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Important TDS rate changes from October 1, 2024, affecting insurance, rent, commissions, mutual funds, and e-commerce. Learn about...
Income Tax : Explore Section 194-Os impact on e-commerce tax compliance. Learn about TDS obligations, rates, and procedures for seamless financ...
Income Tax : Explore Section 194-O of the Income Tax Act, focusing on Tax Deducted at Source (TDS) requirements for e-commerce operators. Under...
Income Tax : Explore resolutions for CBDT Circular No. 20/2023 issues: TDS responsibilities, fees inclusion, treatment of taxes, purchase-retur...
Income Tax : Understand Section 194-O amendment reducing TDS rate from 1% to 0.1% for e-commerce payments, effective October 2024. Impact on e-...
Income Tax : Mjunction Services Ltd. Vs Union of India (Calcutta High Court) HC directs CBDT to dispose the representation made U/S 194O: A sin...
Income Tax : Stay updated with Circular No. 20/2023 on Income Tax Section 194-O. Learn guidelines for e-commerce operators, TDS on gross sales,...
Income Tax : Guidelines under sub-section (4) of section 194-0, sub-section (3) of section 194Q and subsection (1-I) of section 206C of the I...
Income Tax : Finance Act, 2020 amended provisions relating to TCS with effect from 1st October, 2020 to provide that seller of goods shall coll...
Income Tax : 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,...
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.
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 and […]
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 […]
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 […]
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
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.
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 :-
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 will be helpful […]
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 has put in place certain tax measures with […]
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 […]
