TDS and TCS definitions are consolidated under Section 402, with provision-specific buyer and seller rules and expanded work coverage. Section 402 consolidates definitions for tax deduction at source and tax collection at source, while largely retaining prior meanings. Buyer and seller ... Summary
TDS and TCS definitions are consolidated under Section 402, with provision-specific buyer and seller rules and expanded work coverage.
Section 402 consolidates definitions for tax deduction at source and tax collection at source, while largely retaining prior meanings. Buyer and seller are restructured as provision-specific concepts, with tax-year terminology, express coverage of remittances and overseas tour programme packages, and discontinuance of the earlier high-turnover seller regime for specified goods. New definitions cover licensee, lessee, licensor, lessor, and specified undertaking. "Work" is substantively expanded to include manpower supplied under the recipient's supervision, control, or direction.
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