WebOct 2, 2024 · Provisions of TCS on sale of goods have been inserted by the Finance Act 2024 vide section 206C (1H) of the Income Tax Act. Provisions of this section require the … WebJul 6, 2024 · If Sale Receipts Above 50 lakh: If Buyer is not liable to Deduct TDS u/s 194Q then TCS u/s 206C(1H) @ 0.1 % on Receipts Above 50 lakh ... (1H) @ 0.1 % on Receipts Above 50 lakh: 2: If Sale Receipts upto 50 lakh: No TCS u/s 206(1H) TDS on Purchase & TCS on Sale explained with charts and Tally Entry. From Buyer Side. 1:
TDS - Purchase of Immovable property
WebApr 12, 2024 · IT services major Tata Consultancy Services ( TCS) has declared a final dividend of Rs 24 per equity share for the financial year 2024-23. "The directors have recommended a final dividend of Rs 24 per equity share of Rs 1 each of the company," TCS said in a filing. The dividend will be paid on the fourth day from the conclusion of the 28th ... WebJan 11, 2024 · Sale price Rs. 50 lakh to Rs. 1 cr: 20%: 10% of LTCG tax: 22%: 4% of total tax: 22.8%: Above Rs. 1 cr: 20%: 15% of LTCG tax: 23%: 4% of total tax: 23.92%: TDS on sale of property by NRI in India. ... New TDS/ TCS rules for NRIs: Effective from 1st July 2024. Properties are one of the best NRI investment options in India. However, buying … unused material fee
An Overview on Section 194Q of the Income-tax Act, 1961 (ITA)
WebNov 8, 2024 · The TCS on sale of goods is to be calculated on the amount above INR 50 Lakhs. The tax rate to be collected at source is 0.1% of the amount exceeding INR 50 Lakhs. Thus, if a seller receives INR 75 Lakhs for the sale of goods to a buyer in the current financial year, then TCS is to be calculated at the rate of 0.1% on 75lakh … WebMar 19, 2024 · Applicable only if the sale exceeds Rs 50 Lakhs for individual customer for the Financial Year (Apr-March) TCS has to be collected only on the excess of 50 Lakhs … WebJul 21, 2024 · TCS Rates for Financial Year 2024-22 (A.Y.2024-23) Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in a financial year if remitted amount is out of loan obtained from any financial institution u/s 80E for the purpose of pursuing any education. Foreign remittance through Liberalised Remittance Scheme … unused maori freehold land