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Section 194-0 related query
what is the relevance of limit of 500000 for individual and huf under section 194-o?
Replies (1)
Under 194O (2)
No deduction under sub-section (1) shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of an e-commerce participant, being an individual or HUF, where the gross amount of such sale or services or both during the previous year does not exceed 5 lakhs and such e-commerce participant has furnished his PAN or Aadhaar to the e-commerce operator.
No deduction under sub-section (1) shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of an e-commerce participant, being an individual or HUF, where the gross amount of such sale or services or both during the previous year does not exceed 5 lakhs and such e-commerce participant has furnished his PAN or Aadhaar to the e-commerce operator.
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