Web1 Oct 2024 · Section 194-O of the Income Tax Act 1961 was introduced in the Union Budget 2024 and came into effect on 1st October 2024. This section applies to e-commerce operators who are responsible for paying any amount to e-commerce participants. The … Web2 Oct 2024 · These two sections 194JA and 194JB are just the display parts (segregated section codes) of section 194J of the Act for the purpose of filing e-TDS returns to distinguish deduction of tax (TDS) under section 194J either at 2% or 10%. The intention of the legislature to reduce the rate of TDS in section 194J is to bring it at par with section ...
Guidelines under section 194-O (4) and section 206C (1-I) of
WebThe provisions of Section 194Q are silent on applicability of TDS on amount of GST. However, on perusal of the Circular 17/2024 dated 29.09.2024, CBDT clarifies TCS under Section 206C (1H) is applicable on amount of sales consideration and no adjustments on account of indirect taxes (including GST) is required to be done. Web18 Aug 2024 · 2) Section 194 O shall apply only when e commerce participate is residents, if the e-commerce operator is a nonresident within the meaning of income tax act, then … lakegalartworks.ca
Section 194O TDS on E-commerce Operator- Analysis - TaxGuru
Web13 Apr 2024 · Section 194-0 is applicable to both resident and non-resident e-Commerce operators which are fulfilling the other conditions under this section. Image Source- … WebSection 194Q of the ITA is applicable from July 1, 2024. So, the TDS has to be deducted only on purchases after July 1, 2024. However, the threshold limit of purchase of Rs 50 lakh … Web7 Mar 2024 · According to Section 194O, “Notwithstanding anything to the contrary contained in any of the provisions of Part B of this Chapter, where the sale of goods or provision of services of an e-commerce participant is facilitated by an e-commerce operator through its digital or electronic facility or platform (by whatever name called), such e … he lifted his eyes