TCS under Sec 206(1H)
This query is : Resolved
21 March 2020
Dear Expert , As wef 1-4-20 TCS is applicable on sales of goods above 50Lakh by the seller. There is another condition is that, no TCS
would be under sec 206H (1H) if a Buyer is liable to deduct TDS under any other provisions.
(I) want to know what is meaning of " if buyer is liable to deduct TDS.
(II) Is GSt amount would be added for calculating TCs or only basic amount.
Kindly reply
would be under sec 206H (1H) if a Buyer is liable to deduct TDS under any other provisions.
(I) want to know what is meaning of " if buyer is liable to deduct TDS.
(II) Is GSt amount would be added for calculating TCs or only basic amount.
Kindly reply
22 March 2020
i) ie., if the buyer is liable to deduct tax under any other provisions of the Income tax Act,1961 and tax has been deducted thereon.
ii) issue is debatable for want of clarification from CBDT.
ii) issue is debatable for want of clarification from CBDT.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- NRI INSURANCE ADVISOR
- Reporting in TDS return
- Loss of interest in PF transfer from EPFO to Trust
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Missed TDS
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
