plz help me out with this provision exactly it is regarding what?
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Quick Summary
This discussion aims to clarify Section 206CQ of the Indian tax law, which pertains to Tax Collected at Source (TCS). Specifically, it addresses the provision requiring sellers to collect TCS on the receipt of payments for goods exceeding fifty lakh rupees in a previous financial year. The exception applies to exported goods or those covered under specific sub-sections. The conversation also briefly touches upon unrelated topics like online gaming.
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)/ (1F)/ (1G) shall, at the time of receipt of such payment. IT is an TCS section
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