Tax collection at source requires sellers and licensors to collect specified tax from buyers and remit it to the government. Sellers, lessors or licensors listed in Table-6 must collect a prescribed percentage of consideration as tax at source on specified transactions and remit ... Summary
Tax collection at source requires sellers and licensors to collect specified tax from buyers and remit it to the government.
Sellers, lessors or licensors listed in Table-6 must collect a prescribed percentage of consideration as tax at source on specified transactions and remit the sums to the Central Government; payment is deemed made when settled in cash, cheque, account credit or other prescribed mode, and collectors must furnish certificates and prescribed returns, with the Board prescribing return form, period, verification, delivery medium, authorised recipients and related particulars.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.