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Home List Manuals Income TaxIncome Tax - Frequently Asked Questions (FAQs)FAQs on TDS or TCS on sale or purchase of goods This

Income Tax - Frequently Asked Questions (FAQs)

FAQs on TDS or TCS on sale or purchase of goods

Whether TCS provision of section 206C(1H) applies if buyer is a person whose income is exempted from income tax?

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Ans. No tax is required to be collected where goods are sold to a buyer who as a person is exempt from income tax under the Income-tax Act or any other Act passed by the Parliament.

However, this exemption is not available if only part of the income of the buyer is exempt from tax.

 

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