TCS

This query is : Resolved

TARIQUE RIZVI (Querist)
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22 October 2019 Respected Sir

What was the first assessment year in which section for TCS was inserted into income tax act ?

Please guide me and oblige.

Asha Kanta Sharma

Asha Kanta Sharma (Expert)
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27 May 2020 Section 206C was also inserted in the Income-tax Act by the Finance Act, 1988, with effect from 1-6-1988, which provided for collection of tax by the seller of the goods

Asha Kanta Sharma

Asha Kanta Sharma (Expert)
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27 May 2020 Section 206C was also inserted in the Income-tax Act by the Finance Act, 1988, with effect from 1-6-1988, which provided for collection of tax by the seller of the goods.