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of <h1>Finance Bill 2020: New Section 194-O Requires 1% Tax Deduction by E-commerce Platforms on Sales/Services</h1> Clause 84 of the Finance Bill, 2020 introduces section 194-O to the Income-tax Act, mandating e-commerce operators to deduct a 1% income tax on the gross amount of sales or services facilitated through their platform. This deduction applies at the time of credit or payment to the e-commerce participant. If the participant is an individual or Hindu undivided family with annual sales or services not exceeding five lakh rupees and provides their PAN or Aadhaar, no deduction is required. Transactions covered by this section are exempt from other tax deduction provisions, except for unrelated services like advertising. This amendment is effective from April 1, 2020.
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