TaxTMI 
TaxTMI 
Tax Collection at Source (TCS) - Unit of International Financial Services Centre shall not be considered as ‘buyer’ for the purposes of sub-section (1H) of section 206C of the IT Act 1961
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....he 6th January, 2025 (INCOME-TAX) S.O. 99(E).- In exercise of the powers conferred by clause (a) of the Explanation to sub-section (1H) of section 206C of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the said Act), the Central Government hereby specifies that a Unit of International Financial Services Centre shall not be considered as buyer for the purposes of the said s....
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....shall - (i) not collect tax on payment received from the buyer after the date of receipt of copy of statement-cum-declaration in the said Form from the buyer; and (ii) furnish the particulars of all the payments received from the buyer on which tax has not been collected in pursuance of this notification in the statement of collection of tax referred to in sub-section (3) of sect....
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.... meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005); (ii) "seller" shall have the same meaning as assigned to it in clause (b) of the Explanation to sub-section (1H) of section 206C of the said Act; and (iii) "Unit" shall have the same meaning as assigned to it in clause (zc) of section 2 of the Special Economic Zones Act, 20....
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....ame and address of the Unit of International Financial Services Centre: (4) Date of permission obtained under clause (a) of sub-section (1) of section 23 of the Banking Regulation Act, 1949 (10 of 1949) or permission or registration under the Securities and Exchange Board of India Act, 1992 (15 of 1992) or permission or registration under the International Financial Services Centres Authority A....