A New Route of Tax Knowledge
New Section
Last year from 1st July 2020, the government had introduced a new TCS provision u/s 206C(1H). This section was for “seller of goods” on receipts/advance from/for sale of goods, exceeding Rs. 50 Lakhs as a consideration during the financial year. …
U/s 194Q TDS shall be deducted by the eligible buyer of the goods at the rate of 0.10% of such sum exceeding Rs. 50Lakh.
Section 206AB and Section 206CCA – Special provision of TDS and TCS for non-filers of Income Tax Return at Higher Rates.
Section 206AB and Section 206CCA – Special provision of TDS and TCS for non-filers of Income Tax Return at Higher Rates.
Section 194P Conditional Relaxation for senior citizens who are of the age of 75 year or above from filing return of income-tax under Union Finance Bill 2021/ Budget 2021.