Cap on tax collection at source limits maximum TCS rate under the Finance Act amendment, clarifying withholding ceiling. The amendment inserts a proviso into sub section (1) of section 206CC providing that the rate of tax collection at source under this section shall not ... Summary
Cap on tax collection at source limits maximum TCS rate under the Finance Act amendment, clarifying withholding ceiling.
The amendment inserts a proviso into sub section (1) of section 206CC providing that the rate of tax collection at source under this section shall not exceed twenty per cent, effective from 1 July 2023.
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