Changes in TCS and TDS Provisions
1821
post-template-default,single,single-post,postid-1821,single-format-standard,bridge-core-1.0.6,ajax_fade,page_not_loaded,,qode_grid_1300,footer_responsive_adv,hide_top_bar_on_mobile_header,qode-theme-ver-18.2,qode-theme-bridge,qode_header_in_grid,wpb-js-composer js-comp-ver-6.0.5,vc_responsive
 

Changes in TCS and TDS Provisions

18 Sep Changes in TCS and TDS Provisions

Posted at 11:04h in Uncategorized by
0 Likes

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
Tags:
, , ,
No Comments

Post A Comment