Insights | Jain Ankit and Co

TDS under Section 194Q v/s TCS under Section 206C(1H): Which will prevail over other?

Section 206C(1H) was made effective since 01.10.2020, which directs the seller to collect TCS if sale value is above 50 Lakhs. Now with...

New Sections 206AB and 206CCA of the Income Tax Act, 1961

The Finance Act 2021 has introduced 2 new sections, Section 206AB and Section 206CCA of the Income Tax Act 1961, which mandates the...

New Income tax portal www.incometax.gov.in

The much awaited income tax portal has been finally launched by the income tax department. Presenting herewith the key higlights of the...