TCS on sales of goods in India | Update in TCS provision | Sec 206C 1H of Income Tax Act |

📍Watch part 2 on Sec 206C(1H) for Practical FAQ and compliance guide -    • Practical Applicability of TCS on sal...  

📍In this video we have discuss the detail provision of newly inserted section 206C (1H) by Finance Act 2020, in Income Tax Act,1961 on "TCS on Sales on Goods in India".

🔗Download Complete Notes - https://bit.ly/3hvTZqG
🔗Download Chart Analysis - https://bit.ly/3bUFqMb
🔗Join Income Tax Return filing Course- https://bit.ly/3hobEjP
🔗For Jobs in Finance & Accounts - https://bit.ly/3bVhAzW

📍Applicability
📑There has to be a sale of goods within India (not applicable on export)
📑 The sellers TO in last FY i.e. 2019-20 or in the Current FY i.e. 2020-21 should be greater than Rs.10 crore.
📑 Consideration received from a buyer (in one transaction or in aggregate) during the current FY should be greater than Rs.50 lakh
📑 Buyer should not be Central Government / State Government / Embassy / High Commission / Legation / Commission / Consulate / Trade Representation of a Foreign State / Local Authority / Importer / any other person as may be notified
📑The transaction should not already be covered by TCS [under Section 206C(1), 206C(1F) and 206C(1G)] or TDS provisions from buyer’s end

📍TCS Rate
TCS 0.10% % [for the period 01.10.2020 to 31.03.2021, the rate will be 0.075%] or @1% [if the buyer does not have PAN], at the time of receipt of any consideration more than Rs.50 lakh.

📍Certificate Course by Fintaxpro Advisory LLP
📚GST Practical Course – http://bit.ly/3qv1gwJ
📚ITR Filing Course - http://bit.ly/2JZaRuB

📽Studio Gear
👉Mic Used - Boya BYM1 https://amzn.to/38cQBye
👉Mic 2 Use - Rode Lavalier Go Pro https://amzn.to/37wDadl
👉Tripod - DIGITEK DTR 5.57” https://amzn.to/2KB78Uw
👉Webcam/Live Stream cam - Logitech C922 Pro https://amzn.to/34rdRaH
👉Main Camera - iphone rare cam https://amzn.to/3nxCSbz
👉Laptop – Lenovo ideapad S145 https://amzn.to/2KD295I
👉Writing Pad – ipad 8th Gen https://amzn.to/2WulLvu

🎞Post Production & Editing System
👉CPU – AMD RYZEN 2700X https://amzn.to/3ali9El
👉Motherboard – Gigabyte X570 https://amzn.to/2J0UcXx
👉RAM – 16 GB DDR4 Corsair https://amzn.to/3nxFnKZ
👉SSD – Kingston 250gb https://amzn.to/3p4B1LR
👉Graphics Card – RTX2060 ZOTAC 6gb https://amzn.to/3aBPMSD
👉Monitor – BENQ 27” https://amzn.to/38gFkx1

Post Production Software’s
👉Editing Software – Adobe Premier Pro 2020, Adobe After Effects 2020
👉Thumbnails – Adobe Photoshop 2020

#Sec206C(1H) #1.Oct.2020 #TCSonSales #FA2020

📩For Personal Consultancy - [email protected]
📩Business Query/ Collaboration - [email protected]
📞 +91 8368741773 (Whats App Only)

Cheers Folks😉
Team Fintaxpro

This video will also guide you in below topics-
TCS on sales of goods in India
Update in TCS provision
Sec 206C 1H of Income Tax Act
tax collected at source in hindi,
tax collected at source malayalam,
tax collected at source under gst,
tax collected at source in english,
tax collected at source in sap,
tax collected at source in tally erp 9,
tax collected at source configuration in sap,
tax collected at source meaning in tamil,
tax collected at source accounting entry,
all about tax collected at source,
tax collected at source india,
tax collected at source entry in tally,
tax collected at source form,
tax collected at source in tally,
what is tax collected at source,
tcs tax collected at source,
tax collected at source in tamil,
tax collected at source under which head in tally,
what is tax collected at source in hindi
what is tax collected at source,
what is tax collected at source in hindi
tax collected at source in tally,
tax collected at source form,
tax collected at source in hindi,
tax collected at source in english,
tax collected at source in sap,
tax collected at source in tally erp 9,
tax collected at source under gst,
tax collected at source under which head in tally,
tax collected at source india,
tax collection at source
tcs on sale above 50 lakhs,
tcs on turnover above 50 lakhs,
tcs as per income tax,
difference between tcs and tds
tcs on sale above 50 lakhs,
tcs on sale,
tcs on sales,
tcs on sale of goods,
tcs on sale of goods budget 2020