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Income Tax - Frequently Asked Questions (FAQs) |
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FAQs on TDS or TCS on sale or purchase of goods |
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What is Section 206C(1H) of the Income-tax Act? |
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Ans. Section 206C(1H) of the Income-tax Act deals with collection of tax at source (TCS) from buyer on sale of goods if the aggregate value of such sale consideration received in any previous year exceeds Rs. 50 lakh. |
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