CBDT clarifies on 1% TDS on e-commerce transactions
Providing clarification on the 1 per cent tax deducted at source (TDS) on e-commerce transactions, the CBDT on Tuesday said that that the payment gateway will not be required to deduct the tax under section 194-0 of the Income-Tax Act on a transaction, if the tax has been deducted by the ecommerce operator under the section concerned of the Act, on the same transaction
CBDT on Tuesday issued guidelines for applicability of TCS provision which requires an e-commerce operator to deduct 1 per cent tax on sale of goods and services with effect from October 1