Tax collection at source expanded to cover LRS remittances, overseas tour sales and high-value goods transactions, with compliance changes. Section 206C is amended to add sub-sections (1G) and (1H) imposing collection-at-source duties: authorised dealers handling Liberalised Remittance Scheme remittances and sellers of overseas tour packages must collect tax at receipt or debiting; sellers with prior-year turnover above a high-value threshold must collect on receipts exceeding that threshold, with higher collection where buyer omits PAN/Aadhaar. Exemptions apply where buyers are liable to deduct tax or are specified governmental or notified entities. Definitions of 'authorised dealer', 'overseas tour program package', 'buyer' and 'seller' are provided; related recovery, payment and default provisions are amended.
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Tax collection at source expanded to cover LRS remittances, overseas tour sales and high-value goods transactions, with compliance changes.
Section 206C is amended to add sub-sections (1G) and (1H) imposing collection-at-source duties: authorised dealers handling Liberalised Remittance Scheme remittances and sellers of overseas tour packages must collect tax at receipt or debiting; sellers with prior-year turnover above a high-value threshold must collect on receipts exceeding that threshold, with higher collection where buyer omits PAN/Aadhaar. Exemptions apply where buyers are liable to deduct tax or are specified governmental or notified entities. Definitions of "authorised dealer", "overseas tour program package", "buyer" and "seller" are provided; related recovery, payment and default provisions are amended.
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