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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 194-O Requires E-commerce Platforms to Deduct 1% Tax on Sales, with Exemptions for Small Sellers</h1> Section 194-O, introduced by the Finance Act, 2020, mandates that e-commerce operators deduct a 1% income tax at the time of credit or payment to e-commerce participants for sales or services facilitated through their platforms. This deduction applies unless the participant is an individual or Hindu undivided family with annual sales or services not exceeding five lakh rupees, provided they furnish their PAN or Aadhaar. Transactions subject to this deduction are exempt from other tax deductions at source. Guidelines for implementation may be issued by the Board and must be presented to Parliament. Definitions for terms like 'e-commerce operator' and 'participant' are provided.
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