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Income Tax - Highlights / Catch Notes

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Demand u/s 206C(1)/206C(7) - TCS - 206C(1A) mandates person ...


Tax Demand Canceled: Assessee Provided Declarations u/s 206C(1A) for TCS Exemption on Manufacturing Goods Reuse.

May 11, 2019

Case Laws     Income Tax     AT

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 goods for re-use in manufacturing process or producing article or things - not necessary to collect taxes at sources when sales were made - since assessee has submitted declaration before the AO in requisite forms - demand canceled

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