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 : The Tribunal ruled that the Assessing Officer erred in applying a 6% net profit rate without examining comparable cases engaged in...
Income Tax : The issue involved restriction of TDS credit due to mismatch between Form 26AS and return. ITAT held that such adjustments require...
Income Tax : ITAT Pune ruled that the CPC erred in restricting TDS credit for a cooperative society based on a turnover mismatch in Form 26AS. ...
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,...
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 […]
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 SALES OR SERVICE OR […]
