Comparison of section 394 "Collection of tax at source." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)
15 September, 2025
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Collection of tax at source: TCS on specified receipts with exemptions, non cumulation and documentation duties. Clause 394 prescribes TCS on nine specified receipt types with collectors (sellers, authorised dealers, licensors/lessors) required to collect at ... Summary
Collection of tax at source: TCS on specified receipts with exemptions, non cumulation and documentation duties.
Clause 394 prescribes TCS on nine specified receipt types with collectors (sellers, authorised dealers, licensors/lessors) required to collect at prescribed rates at the earlier of debiting the buyer's account or receipt. Indian resident buyers may avoid collection by furnishing a prescribed declaration of end use; the enacted law imposes a delivery timeline for that declaration and adds an exemption for certain education loan funded remittances. The provision includes non cumulation rules to prevent duplicate collection and leaves procedural specifics to subordinate rules.
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