Due date for furnishing 15G/15H declarations CBDT has vide Notification No 1/2016 Dated: 09th June, 2016 notified due date for furnishing 15G/15H declarations for the period from 10.10.2015 to 31.03.2016 and for the period starting from 01.04.2016.
Tag Archives: Tds Deduction
No TCS on services despite value exceeding Rs. 2 Lakh The Hon’ble Finance Minister Shri Arun Jaitley has brought amendment in Section 206C of the Income Tax Act, 1961 in order to reduce the quantum of cash transaction in sale of any goods and services and for curbing the flow of unaccounted money in the […]
TCS on cash sale of goods or services Finance Act, 2016 imposed TCS on cash sale of goods or services with effect from 1-6-2016. New Sub Section (1D) of Section 206C is as follow: Every person, being a seller, who receives any amount in cash as consideration for sale of bullion or jewellery or any […]
TCS on Sale of Goods/Services of value exceeding Rs. 2 Lakhs “Every person, being a seller, who receives any amount in cash as consideration for sale of bullion 35[***] or jewellery, or any goods (other than bullion or jwellery) shall, at the time of receipt of such amount in cash, collect from the buyer, a […]
TCS on sale of Goods and Services Section 206C Tax Collected at Source: “TCS is the Tax Collected at Source by the seller (collector) from the buyer(collectee)”. Every person, being a seller, shall collect tax at source (TCS) from the buyer of goods specified in section 206 C (1).