As per the Income Tax Act the Coal company is liable to collect TCS on its sales.
But does it have to do if it is exporting the coal??(if it has to, could anyone gove me the section under which it is mentioned)
Saurabh Bansal (Article) (36 Points)
28 December 2013As per the Income Tax Act the Coal company is liable to collect TCS on its sales.
But does it have to do if it is exporting the coal??(if it has to, could anyone gove me the section under which it is mentioned)
SAURABH NENE
(Chartered Accountant)
(226 Points)
Replied 28 December 2013
No, the provisions of TDS or TCS are applicable in case of a Non Residents, only if thheir income is taxable in India. Hence if, foreign entity to which coal is sold, is not subject to Indian Income Tax, then TCS is not applicable.
Milton
(-)
(32 Points)
Replied 19 January 2016
Dear Saurabh Nene,
Can you please give a supporting case law for the same
Shyamal Chandra
(Audit Assistant)
(21 Points)
Replied 13 August 2016
CAN YOU GIVE ME DETAILS WHETHER SALES MADE TO FOREIGN PARTY ARE ATTARCTING TCS ?
WHAT ARE THE CONDITIONS IN THIS REGARD TO AVAIL EXEMPTION FROM TCS?
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