Income Tax : Understand the interplay between Section 194Q and Section 206C(1H) of the IT Act, detailing TDS and TCS obligations on high-value ...
Income Tax : Understand TDS on Purchase of Goods (Section 194Q) and TCS on Sale of Goods (Section 206C(1H)). Learn their applicability, rates, ...
Income Tax : Understand whether TCS u/s 206C(1H) or TDS u/s 194Q of the Income Tax Act applies to sales/purchases above 50 lakhs in India with ...
Income Tax : Demystify Section 194Q for TDS on goods purchase in India. Learn about deductor, rates, exemptions, time of deduction, and implica...
Income Tax : Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Ea...
Income Tax : Read the detailed analysis of Kanjula Rajagopal Reddy Firm vs. ITO case by ITAT Vishakhapatnam regarding TCS credit eligibility un...
Income Tax : According to the learned counsel for the petitioner, the Income Tax Department has clarified the newly introduced provision of Sec...
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 : Central Government hereby specifies that no TDS shall be deducted under section 194Q in case of transfer of goods by Air India Lim...
Income Tax : CBDT releases Guidelines under section 194Q of Income-tax Act, 1961 vide Circular No. 13 of 2021 | Dated: 30th June, 2021. Section...
Discover the applicability of TDS under section 194Q of the Income Tax Act for purchase of goods of value exceeding INR 50 Lakhs. Get to know how the provision, effective from 1st July 2021, affects you, here!
Learn about Section 194Q & Section 206C (1H) of the Income Tax act, 1961, and how they form TDS on payments for purchase of goods. 0.1% TDS rates for businesses with turnover above 10 crores explained.
Applicability of provisions of Section 194Q of the I.T. Act,1961-For transactions in agricultural produce of farmers traded through Commission Agents of recognized Agricultural Produce Market Committee (APMC)-Request to issue guidelines in order to remove genuine hardship and practical difficulties faced by the Commission Agents and Traders
Learn about the new tax deduction provision under Section 194Q and its implications for buyers. Understand the criteria and rates for tax deduction.
Understanding TDS and TCS under Income Tax: Exploring sections 194Q and 206(1H) and their impact on businesses.
Explore the updated Income Tax TDS Rate Chart for FY 2022-23 / AY 2023-24. Comprehensive guide covering TDS rates on various incomes as per the Income-tax Act. Stay informed to ensure accurate tax deductions.
Regarding applicability of provisions of section 194Q and 206C(1H) of Income Tax Act, 1961 w.e.f 01.04.2022. 206C(1H): Every person, being a seller, who receives any amount as consideration for sale of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, other than the goods being exported […]
Understanding TDS on purchase of Goods- Section 194Q: A comprehensive guide to the new tax provision under the Income Tax Act of 1961.
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 relevant […]
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
