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)
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)
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.
Dear Saurabh Nene,
Can you please give a supporting case law for the same
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?
Aggarwal Sarawagi and Co
New Delhi
CA
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Karia Overseas
Ahmedabad
CA
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CAclubindia
