Tax collection on timber and specified forest produce requires seller collection, with no monetary threshold. Tax collection at source applies to sales of timber obtained under a forest lease or otherwise, and to sales of forest produce other than timber and tendu ... Summary
Tax collection on timber and specified forest produce requires seller collection, with no monetary threshold.
Tax collection at source applies to sales of timber obtained under a forest lease or otherwise, and to sales of forest produce other than timber and tendu leaves when obtained under a forest lease. The seller must collect tax at source at 2%. No monetary threshold applies, and a declaration exception is available under Section 394(2).
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