TCS exemption to allow no or lower collection from notified exempt persons, easing compliance for tax exempt entities. The Central Government is empowered to notify, in the Official Gazette, persons or classes of persons-including institutions, associations or bodies-for ... Summary
TCS exemption to allow no or lower collection from notified exempt persons, easing compliance for tax exempt entities.
The Central Government is empowered to notify, in the Official Gazette, persons or classes of persons-including institutions, associations or bodies-for whom no TCS shall be collected or for whom TCS shall be collected at a lower rate in respect of specified transactions; this addresses cases where entities with tax-exempt income and no return-filing obligation nonetheless face TCS, and the amendment prescribes a prospective commencement for the relief.
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TaxTMI 
TaxTMI 
