https://www.taxtmi.com/article/detailed?id=9481 The new Tax Collection at Source provision requires sellers above a turnover threshold to collect tax from buyers whose purchases from a seller exceed a prescribed amount in a year, excluding certain exempt buyers and transactions already covered by other withholding rules. A lower collection rate applies generally, with a substantially higher rate where buyer PAN or Aadhaar is not furnished. Ambiguities arise on inclusion of receipts before the effective date, inclusion of GST in sums, and treatment of earlier payments; practical administrative burdens and collection mechanics are highlighted, prompting a request for deferral or omission in favour of advance tax. en-us Tue, 22 Sep 2020 09:35:16 +0530 Tue, 22 Sep 2020 09:35:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9481 The new Tax Collection at Source provision requires sellers above a turnover threshold to collect tax from buyers whose purchases from a seller exceed a prescribed amount in a year, excluding certain exempt buyers and transactions already covered by other withholding rules. A lower collection rate applies generally, with a substantially higher rate where buyer PAN or Aadhaar is not furnished. Ambiguities arise on inclusion of receipts before the effective date, inclusion of GST in sums, and treatment of earlier payments; practical administrative burdens and collection mechanics are highlighted, prompting a request for deferral or omission in favour of advance tax. Articles Income Tax Tue, 22 Sep 2020 09:35:16 +0530 https://www.taxtmi.com/article/detailed?id=9481