Section 206C(1H) - New Provisions and its applicability w.e.f 01.10.2020

Saloni Gandhi , Last updated: 29 January 2021  
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With effect from 01-10-2020, the Finance Act, 2020 inserted sub-section (1H) in Section 206C which requires a seller to collect tax at source from the buyer for the amount received as consideration for the sale of goods if it exceeds Rs. 50 lakhs in any previous year. Section 206C(1H) provides a

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Saloni Gandhi
(Assistant Manager -Taxation)
Category Income Tax   Report

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