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Obligations to collect tax at source u/s 206(1h)

Gandhar Palkar (23 Points)

26 June 2021  
If provisions of 194(q) are applicable to a buyer but buyer fails to comply provisions of section 194(q) then is it obligatory to collect tax by the seller u/s 206(1h)??

 2 Replies

CMA Poornima Madhava (CMA) (12987 Points)
Replied 26 June 2021

It seems so if one refers to the 2nd proviso of section 206C(1H), provided the seller meets the turnover criterion.

veerendar singh (tax consultant) (2818 Points)
Replied 26 June 2021

Go for lower rate section

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