TCS -Tax Collected at Source TCS Tax Collected at Source under Income Tax Act Section 206 Table of Contents on TCS Sr No Contents 1.1 Who is responsible to collect tax at source under section 206C 1.2 Specified goods in Section 206C(1) 1.3 Who is a seller under Section 206C 1.4 Who is a buyer… Read More »
CBDT Circular No. 23/2016 F.No.370142/17/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) New Delhi, Dated 24 June 2016 Subject : Amendment in section 206C of the Income Tax Act vide Finance Act 2016 -Clarification regarding In order to curb the cash economy, Finance Act 2016 has… Read More »
Finance Act, 2016 imposed TCS on cash sale of goods or services with effect from 1-6-2016