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TCS on Sale of Goods under Income Tax Act, 1961 w.e.f. 01st October, 2020

Posted on September 30, 2020
by CA Asha Sharma

For TCS on Sale of goods, sub-section (1H) was inserted in Section 206C by Finance Act, 2020 and is made effective with effect from 01st October, 2020.

Under this provision , TCS is required to be made at the time of receipt of Sales Consideration.

To know all about applicability of TCS on Sales of Goods U/s 206C(1H) of Income Tax Act, 1961 along with the latest guidelines issued by CBDT vide its circular No. 17 of 2020 dated 29th September, 2020 and our own suggestions, click on following link

To download the Circular No. 17 of 2020 dated 29-09-2020, click below