CIRCULAR ISSUED FOR SECTION 194Q AND SECTION 206C(1H) | ALL ABOUT SECTION 194Q & 206C(1H) |

APP DOWNLOAD LINK : https://bit.ly/2Vza8Dj

TELEGRAM CHANNEL : https://t.me/allabouttaxes

In this video we have discussed circular issued by CBDT for clarification on Section 194Q*.

1. TDS under section 194Q on net of GST if charged separately. However for section 206C(1H) GST is to be included.

2. Transactions on recognised exchanges exempted from 194Q.

3. *Hierarchy of section 194-O, 194Q and Section 206C(1H) clarified*. If section 194-O is applicable to a transaction then 194Q and 206C(1H) will not apply. If 194Q is applicable then section 206C(1H) shall not be applicable. If section 194-O and 194Q are not applicable section 206C(1H) will be applicable.

4. Turnover/ Gross receipts of 10 crore of buyer for applicability of this section 194Q will mean *Turnover/ Gross receipts in business only*. Hence receipts by way of rent, interest , capital gain etc if not considered as business income are not to be included.

5. Further provision of section 194Q not to apply in first year of an entity as no turnover / gross receipts in preceding year since entity was not in existence.

FOLLOW ON TWITTER : https://twitter.com/AllabouttaxesIn?s=09

WEBSITE : www.allabouttaxes.in

FACE BOOK PAGE :   / allabouttaxes.in  

Join our courses – Download from play store ALL ABOUT TAXES. Visit our app for our Courses and webinars or what’s up at +91-9350118496 to Join our Courses:

(1) NEW GST RETURNS WITH QRMP SCHEME: http://on-app.in/app/oc/67158/heppv
(2) GOODS & SERVICE TAX CRASH COURSE: http://on-app.in/app/oc/50948/heppv
(3) INCOME TAX PRACTITIONER COURSE: http://on-app.in/app/oc/50944/heppv
(4) INCOME TAX & TDS COURSE: http://on-app.in/app/oc/52626/heppv
(5) CERTIFIED TDS COURSE: http://on-app.in/app/oc/51162/heppv
(6) CERTIFIED BUSINESS ACCOUNTANT: http://on-app.in/app/oc/50825/heppv

Join us :    / @allabouttaxes  

FREE INCOME TAX COURSE :

   • LECTURE -1 : INCOME TAX- AN OVERVIEW ...  


for more about GST ANNUAL RETURN Provision visit our ALL ABOUT GST ANNUAL RETURN Series in our playlist :

   • GAR#01 : जानिए GST ANNUAL RETURN से ज...  

for more about TDS Provision visit our ALL ABOUT TDS Series in our playlist :

   • जानिए TDS से जुडी हुई बहुत सारी बातें...  

for more about GST E-WAY BILLS Provision visit our ALL ABOUT E WAY BILL Series in our playlist :

   • अगर (CUSTOMER) कस्टमर के द्वारा गुड्स...  

FOR MORE SERIES PLEASE VISIT :

   / @allabouttaxes  
#gst #incometax

If you like this video don't forget to hit like button and also share this video with your friends & don't forget to subscribe our youtube channel for more videos like this.