Please Help: newly introduced 1%tds on cash purchase
Posted Date : 08-Jun-2016 , 03:24:38 pm | Posted By: Casanjayjuneja
Category :
Income Tax | Answers :
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Comments :
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whether new introduced 1% tds is also applicable on business purchase transactions or it is applicable only to transaction of purchase made by ultimate consumer for consumption |
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| Posted By : Ankit Jain |
17-Jun-2016, 07:06:47 |
| TCS on purchase of Goods / Services u/s 206C(1D) on on both Personal consumption and business transaction. However if TDS is deducted on payment, TCS is not applicable. |
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| Posted By : Vinit Kumar Jain |
10-Jun-2016, 11:20:17 |
| Kindly go through the provisions of Sec 206C thoroughly. the same is applicable for business purchase transactions.
Sec 206C relating to tax collection at source TCS and is applicable in respect of sale of specified goods. |
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