Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2017 Year 2017 This

TCS u/s 206C - TCS & interest liability where the buyer has paid ...

Income Tax

August 29, 2017

TCS u/s 206C - TCS & interest liability where the buyer has paid the taxes - sale of ship-breaking scrap against delcaration in Form no. 27C - matter remanded back to verify the facts.

View Source

 


 

You may also like:

  1. TCS on Scrap - section 206C - there is no requirement that the goods to be eligible for scrap should be produced/manufacture by the seller itself. - In present...

  2. Item sold in scrap i.e. Tin, iron scrap, plastic drum etc. is not scrap generated from manufacturing process - No liability to deduct TCS U/s 206C - AT

  3. TCS u/s 206C - Not collection of tax at source on Old and used plates, Non-excisable (exempted) like furniture, wood, etc., Trading of scrap (melting) and High seas sale...

  4. TCS on sale in terms of section 206C - trading of non-ferrous metal scrap - failure to submit the form 27C within the time prescribed - since the assessee had furnished...

  5. Liability to collect tax at source (TCS) u/s 206C(6A)/206C(7) - Form No.27C filled belatedly - sale of scrap - When there was no dispute about such a declaration being...

  6. Default u/s. 206C - assessee has not collected TCS on sale of scraps - late filing of Form 27C - the A.O. failed to verify the Form 27C though the assessee submitted...

  7. Whether tax credit paid on purchases of Oxygen Gas and LPG used in cutting hull of the ship during ship breaking/scrapping process is admissible - Held Yes - HC

  8. TCS - scrap generated from the mechanical working of the material (breaking of the ship) - The assessee is duty bound to collect the TCS from the buyers in terms of...

  9. Default u/s 206C(6A) - the moment assessee has received form no.27C from the buyers his liability to collect TCS @ 1% gets away and the assessee should not be deemed to...

  10. Demand u/s 206C(1)/206C(7) - TCS - 206C(1A) mandates person responsible for TCS to not collect taxes if he obtains a declaration from the buyer that he is purchasing the...

 

Quick Updates:Latest Updates