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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24th July, 2020 INCOME-TAX G.S.R. 464(E). In exercise of the powers conferred by section 197 and 206C read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of D
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FAQ :
The notification introduces amendments to the Income-tax Rules, 1962, to provide a party-wise breakdown of Tax Collected at Source (TCS).
These rules, referred to as the Income-tax (17th Amendment) Rules, 2020, come into force from October 1, 2020.
Particulars of amounts received or debited on which tax was not collected, specifically by authorised dealers and sellers of overseas tour programs, need to be furnished.
Authorised dealers and sellers of overseas tour programs are responsible for furnishing the required particulars.
These rules are made in exercise of powers conferred by sections 197 and 206C read with section 295 of the Income-tax Act, 1961.
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