Exemption under Section 194N - Notification No 70/2019

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Exemption under Section 194N - Notification No 70/2019
Query (Issue) Started By: - Krishna Murthy Dated:- 11-10-2019 Income Tax
Income Tax
Sir, this is with regard to exemption given under N .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... N 70/2019 dated 20-09-2019 with respect to TDS of cash withdrawls from bank. Exemption in the above notification is given to traders operating under APMCs. In this matter, there are two types of tran .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sactions done by traders. 1. Trading with farmers in the APMCs itself. Here, the farmers and traders come under the premises of APMCs and make transactions with each other. This would be under the co .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ntrol of APMCs and cess @ 1% would be collected by APMCs. 2. Trading with farmers would be done outside APMCs. However, APMCs would be paid Cess of 1% for the transactions made outside the APMCs. Wo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... uld both the above transactions come under the preview of exemption or only first type of transactions would come under the exemption? Pls clarify.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X