TDS and TCS definitions are consolidated, with provision-specific buyer and seller rules and expanded treatment of manpower supply. Section 402 consolidates definitions for TDS, TCS and withholding-tax provisions, with most existing meanings substantially retained. Buyer and seller are ... Summary
TDS and TCS definitions are consolidated, with provision-specific buyer and seller rules and expanded treatment of manpower supply.
Section 402 consolidates definitions for TDS, TCS and withholding-tax provisions, with most existing meanings substantially retained. Buyer and seller are restructured through provision-specific frameworks, using tax year in place of financial year, with express treatment of remittances and overseas tour packages. New definitions cover designated person, licensee, lessee, licensor, lessor and specified undertaking. Specified person is simplified, Offshore Banking Unit follows the special economic zone framework, and "work" expressly includes manpower supplied under the recipient's supervision, control or direction.
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