Extending the scope for lower deduction / collection certificate of tax at source (TAX ADMINISTRATION)

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..... , are eligible for certificate for deduction at lower rate. Further, sub-section (9) of section 206C of the Act provides that sums on which tax is required to be collected under sub-section (1) or sub-section (1C), are eligible for collection of tax at lower rate. 2. Section 194Q of the Act, requires every person being a buyer, who pays to a resident, being the seller, for the purchase of any good .....

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..... ed that there is additional compliance as a seller liable for TCS needs to also verify whether the buyer has deducted tax or not. 5. Therefore, to facilitate ease of doing business and to provide an option to seek a lower deduction certificate so as to reduce compliance burden on the assessee, it is proposed: a) to amend sub-section (1) of section 197 to bring section 194Q in its ambit b) to amend .....

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