TCS on sale of goods u/s 206C (1H) came into effect on 1st October 2020. Let us have an overview of the new provision and what all does it cover.
The transparent taxation Scheme brings many changes in the taxation system. Let us discuss the expenses that are going to reflect in 26AS
In the present scenario, due to the arise of Covid-19, many people are purchasing Health Insurance policies. Premiums paid on such policies are eligible for deduction u/s 80D of Income Tax Act. Let us discuss the deduction.
The Government had brought in the concept of TDS, through which persons are required to deduct TDS and deposit the same with the Government. Know more about TDS on fees for professional and technical services here
The Seventh Proviso to Section 139(1) mandates the filing of Income Tax Return for a person undertaking certain high-value transactions or expenditures. Let us discuss the proviso.
Tabular Presentation of some of the most asked questions regarding TCS on goods u/s 206C (1H) w.e.f 1st October 2020.
Peculiar points to be kept in mind while applying TCS u/s 206C (1H) on sale of goods.
TCS u/s 206C (1H) will be applicable w.e.f 1st October 2020. Let us understand the applicability, exemptions, and payment schedule etc. of the section.
Compliance Calendar and Due Dates for various income tax and GST returns to be filed during the month of October 2020
TCS u/s 206C (1H) has come into effect on 1st October 2020. Herein, we have answered some of the most asked questions regarding the section.
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