https://www.taxtmi.com/forum/issue?id=113459 Section 206C of the Income Tax Act prescribes TCS obligations on sellers of specified goods and on certain high value receipts, with collection required at the time of debiting the buyer's account or on receipt of payment. The provision identifies categories of goods (including scrap) attracting TCS, sets the procedural framework for seller and buyer roles, allows buyers to seek lower collection certificates via Form 13, permits exemption for purchasers supplying Form 27C, and requires collectors to file returns and issue certificates, with interest applicable for late collection or deposit. en-us Tue, 06 Mar 2018 14:40:01 +0530 Thu, 23 Jan 2025 15:55:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=113459 Section 206C of the Income Tax Act prescribes TCS obligations on sellers of specified goods and on certain high value receipts, with collection required at the time of debiting the buyer's account or on receipt of payment. The provision identifies categories of goods (including scrap) attracting TCS, sets the procedural framework for seller and buyer roles, allows buyers to seek lower collection certificates via Form 13, permits exemption for purchasers supplying Form 27C, and requires collectors to file returns and issue certificates, with interest applicable for late collection or deposit. Discussion-Forum Income Tax Tue, 06 Mar 2018 14:40:01 +0530 https://www.taxtmi.com/forum/issue?id=113459