Monthly archive

June 2021

TDS & TCS on purchase & sale above Rs.50 Lacs

June 17, 2021
[By Shaleen Shah (Partner), VNCA] A new section 194Q for Tax Deduction at Source (TDS) on purchase of goods is inserted by Finance Act – 2021 effective from 01/07/2021. Earlier section 206C(1H) was inserted by Finance Act, 2020 and was made effective from 01/10/2020 for Tax Collection at Source (TCS)
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