TDS Rate on Technical services to be reduced to 2% from 10%. TDS on E-Commerce Transactions 1% (5% in case of no PAN given to E-commerce operator) Applicable to All E-Commerce Companies TDS Rate Chart For Assessment year 2020-21 and Assessment year 2021-22 No. Nature of Payment ...
Section 194DA: Payment of any sum in respect of a life insurance policy.w.e.f. 1st September 2019, the insurer shall deduct tax (TDS) on the income portion comprised in the insurance pay-out. 5% Section 194EE: Payment of amount standing to the credit of a person under National Saving...
Any dealer / trader selling goods or services online will get the payment after deduction of 2% TCS. Who needs to deduct TCS under GST? Under GST, the main TCS deductors are the e-commerce aggregators, who are made responsible for deducting and depositing TCS at the rate of 2% from eac...
If refund of payment is to be paid by supplier to e-commerce operator then, full amount (without GST TCS) shall be considered. GST TCS to be calculated on Invoice amount excluding GST. The Credit Memo amount excluding GST should be deducted from Invoice amount for the period before...
The government has directed the E-commerce companies to start collecting up to 1 percent TCS in the course of making any payment to suppliers under GST. Also, the notified entities are directed to collect TDS at one percent on the payments done to the suppliers of Goods or services. The ...