Sir,
A composite registered tax payer turnover report in it returns f.y.22-23
1.purchases turnover as per books and orginal invoices based rs:80 lacs
2.purchases turnover as per ais it portal rs:70 lacs
3.purchases turnover as per gst portal rs:75 lacs
Question:
Dealer purchase value report in it returns f.y.22-23

Respected sir
Please clarify the following
Sale of property was registered in April '23
TDS was (for the whole amount of sale price) made in March'23 and remitted in March itself by the buyer.
1.When to file return for claiming LTCG ?
2.From which date the time limit of 2 years will be calculated ?
Thanks in advance

One of our clients is dealer and manufacturer in high-end jewellery. The foreign customers visiting India and buying jewellery from their showroom with single transactions exceeding Rs.50 Lakhs. Foreign buyers are making payment through swap of forex card against the delivery of the jewellery as per bills issued by the jeweler. The client wants clarifications of TCS liability as per the interpretation of section206C(1H) of Income Tax Act, 1961.
Section 206(1H) read as under :
(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 out of India or goods covered in sub-section(1) or sub-section (1F) or sub-section(1G) shall, at the time of receipt of such amount, collect from the buyer, a sum equal to 0.1 percent of the sale consideration exceeding fifty lakh rupees as income-tax :
Provided that if the buyer has not provided the Permanent Account Number or the Aadhar number to the seller, then the provisions of clause (ii) of sub-section(1) of section 206CC shall be read as if for the words “five percent”, the words “one percent” had been substituted :
Provided further that the provisions of this sub-section shall not apply, if the buyer is liable to deduct tax at source under any other provision of this Act on the goods purchased by him from the seller and has deducted such amount.
Following are our queries for TCS from foreign buyers purchasing locally :
1. Foreign buyers are not having PAN or Aadhar Card.
2. The foreign sales invoice made by jewelers exceeding Rs.50 Lakhs which was paid by foreign buyer by swap of forex card against delivery of goods.
3. Whether the assessee is required collect TCS from foreign buyers who are purchasing goods locally ?
4. If Yes, what is the rate of TCS to be collected ? in view of above situation and proviso 1 to sub-section 1H to section 206C of Income Tax Act,1961.
5. Foreign buyers are not ready to pay TCS as they are paying GST on Invoice value and not claiming TCS credit in their home country.

Please provide clarification on the matter to determine the TCS liability u/s 206C(1H) of Income Tax Act, 1961.
Awaiting your early reply.

Return of income for the assessment year 2019-20 filed 30/09/2019 resulting in demand of tax. The date of order is 26/08/2020. Rectification request filed on 09/12/2022. Rectification processed with demand due on April 20,2023. Now the assessee is going on appeal. I request the experts to tell me if the date of order can be taken as the date of the rectification order of 20/04/2023. Or should the date of original order of 26/08/2020.

Respected Experts,

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