https://www.taxtmi.com/circulars?id=64368 Section 194 O requires an e commerce operator to deduct tax at source on gross amounts credited or paid to participants, while section 206C(1H) requires sellers to collect tax at source on receipt of sale consideration exceeding the statutory threshold. The Board issues guidelines exempting transactions on recognized exchanges and certain power exchanges, prevents duplicate deduction by payment gateways where the e commerce operator has deducted tax, relieves uninvolved insurance agents/aggregators from subsequent year deduction obligations, clarifies threshold computation from the start of the previous year, distinguishes motor vehicle TCS scope, disallows adjustments for returns/indirect taxes, and exempts fuel supplied to non resident airlines. en-us Tue, 29 Sep 2020 00:00:00 +0530 Tue, 09 Apr 2024 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=64368 Section 194 O requires an e commerce operator to deduct tax at source on gross amounts credited or paid to participants, while section 206C(1H) requires sellers to collect tax at source on receipt of sale consideration exceeding the statutory threshold. The Board issues guidelines exempting transactions on recognized exchanges and certain power exchanges, prevents duplicate deduction by payment gateways where the e commerce operator has deducted tax, relieves uninvolved insurance agents/aggregators from subsequent year deduction obligations, clarifies threshold computation from the start of the previous year, distinguishes motor vehicle TCS scope, disallows adjustments for returns/indirect taxes, and exempts fuel supplied to non resident airlines. Circulars Income Tax Tue, 29 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=64368