TMI BlogAmendment of section 206C.X X X X Extracts X X X X X X X X Extracts X X X X ..... time of debiting the amount payable by the buyer or at the time of receipt of such amount from the said buyer, by any mode, whichever is earlier, collect from the buyer, a sum equal to five per cent. of such amount as income-tax: Provided that the authorised dealer shall not collect the sum, if the amount or aggregate of the amounts being remitted by a buyer is less than seven lakh rupees in a financial year and is for a purpose other than purchase of overseas tour programme package: Provided further that the sum to be collected by an authorised dealer from the buyer shall be equal to five per cent. of the amount or aggregate of the amounts in excess of seven lakh rupees remitted by the buyer in a financial year, where the amount bei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i) overseas tour 1 [ programme ] package means any tour package which offers visit to a country or countries or territory or territories outside India and includes expenses for travel or hotel stay or boarding or lodging or any other expenditure of similar nature or in relation thereto. (1H) Every person, being a seller, who receives any amount as consideration for sale of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, other than the goods being exported out of India or goods covered in sub-section (1) or sub-section (1F) or sub-section (1G) shall, at the time of receipt of such amount, collect from the buyer, a sum equal to 0.1 per cent. of the sale consideration exceeding fifty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecify for this purpose, subject to such conditions as may be specified therein. ; (1-I) If any difficulty arises in giving effect to the provisions of subsection (1G) or sub-section (1H), the Board may, with the approval of the Central Government, issue guidelines for the purpose of removing the difficulty. (1J) Every guideline issued by the Board under sub-section (1-I) shall be laid before each House of Parliament, and shall be binding on the Income-tax authorities and on the person liable to collect the sum. (II) in sub-section (2), for the words, brackets, figures and letter sub-section (1) or sub-section (1C) , the words this section shall be substituted; (III) in sub-section (3), for the words, brackets, figures and let ..... X X X X Extracts X X X X X X X X Extracts X X X X
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