Changes in TCS and TDS Provisions
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Changes in TCS and TDS Provisions

18 Sep Changes in TCS and TDS Provisions

Posted at 11:04h in Uncategorized by
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To ensure tax compliance and reduce evasion of taxes, the provisions of TCS and TDS under Income Tax Act are being expanded w.e.f. Oct 1, 2020 as following: 
1. TCS shall be applicable on- – Sale of Goods by sellers having Turnover greater than Rs. 10 crore – Foreign Remittances – Foreign Tour Packages

2. A new provision shall become applicable for deduction of TDS @ 1% on sales made on e-commerce platforms.

We have explained these changes in our monthly newsletter on Income Tax Updates which you can download from the link provided below:

Download
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