Sec 206cq view of 26as 20-21 year

It assess 26as download recently in f.y.20-21

1.sec 206cq

2.name of the collector :ICICI BANK LTD

3.total amount paid/deposit: rs:1015-12

4. total tax deducted nil

5. total tcs deposit :nil

Query:

assess above sec 206cq transactions show procedure in books as per 26as f.y20-21

Replies (4)
Quick Summary
This discussion addresses how to account for Section 206CQ transactions appearing in Form 26AS for the financial year 2020-21, specifically those involving ICICI Bank. It explores the nature of these transactions, such as foreign currency purchases of lottery games, and clarifies whether they need to be reported in books of accounts as TCS or TDS. The core query is about the correct procedure for showing these in accounting records and whether they require declaration in the Income Tax Return (ITR), along with the potential consequences of non-disclosure.

206CQ is the purchase in foreign currency of lottery games or any other purchase that is to be reported in books of accounts by showing it as TCS or TDS as per nature

Dear Sir,

One of my client is showing 206cq transactions. My doubt is whether I need to show this amount in ITR or not? Please let me know the consequences of the if not shown in ITR. 

SIR ONE OF MY CLIENT IS ALSO SHOWING 206CQ TRANSACTION FROM ICICI BANK . PLEASE CLEARIFY

Kindly let me know how to show in itr with regard to 206 cq

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