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Section 194-0 related query

Ankit chaturvedi (CA in Practice) (241 Points)

04 February 2020

what is the relevance of limit of 500000 for individual and huf under section 194-o?

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Kapadia Pravin (17254 Points)
Replied 05 February 2020

Under 194O (2)

No deduction under sub-section (1) shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of an e-commerce participant, being an individual or HUF, where the gross amount of such sale or services or both during the previous year does not exceed 5 lakhs and such e-commerce participant has furnished his PAN or Aadhaar to the e-commerce operator.