https://www.taxtmi.com/manuals?id=4510 Section 394(1) requires sellers of alcoholic liquor for human consumption to collect tax at source at 2% of the entire sale consideration, at the earlier of debit to the buyer's account or receipt of payment. No monetary threshold applies. Collection is not required where a resident buyer furnishes the prescribed declaration that the goods will be used for manufacturing, processing, production, or power generation and not for trading. The seller must forward a copy of the declaration to the prescribed income-tax authority. en-us Thu, 29 Feb 2024 12:20:00 +0530 Sat, 29 Aug 2026 12:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4510 Section 394(1) requires sellers of alcoholic liquor for human consumption to collect tax at source at 2% of the entire sale consideration, at the earlier of debit to the buyer's account or receipt of payment. No monetary threshold applies. Collection is not required where a resident buyer furnishes the prescribed declaration that the goods will be used for manufacturing, processing, production, or power generation and not for trading. The seller must forward a copy of the declaration to the prescribed income-tax authority. Manuals Income Tax Thu, 29 Feb 2024 12:20:00 +0530 https://www.taxtmi.com/manuals?id=4510