TDS on E-Commerce Operators | Section 194-O | TDS on Online Seller on Amazon, Flipkart
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Dear Friends, My self CA Vikas Sharma. I have introduced this channel for Accounts and Income tax related topics. Please watch the video till end and also like the video, subscribe the channel.
In this video we will discuss the newly section 194 O insert by Finance Bill in Budget 2020.
Insertion of new Section 194-O proposed in Finance Bill, 2020 (Budget, 2020) that talks about TDS (Tax Deduction at Source) applicability on E-Commerce operators. E-commerce operators now liable to deduct 1% TDS on amount of gross sale/services provided by e-commerce participants to customers. To know more watch this video.
#TDSonEcommerce
#Section194O
#TDSononlineseller
#Budget2020
Where sale of goods or provision of services of an #e-commerce participant is facilitated by an e-commerce operator through its digital or electronic facility or platform (by whatever name called) then such e-commerce operator shall deduct TDS 1%
Higher TDS : Consequential amendments are being proposed in section 206AA (to provide for tax deduction at 5 % in non-PAN/ Aadhaar cases.
“electronic commerce” is defined to mean the supply of goods or services or both, including digital products, over digital or electronic network.
e-commerce operator” is defined to mean any person who owns, operates or manages digital or electronic facility or platform for electronic commerce and is a person responsible for paying to e-commerce participant
e-commerce participant” is defined to mean a person resident in India selling goods or providing services or both, including digital products, through digital or electronic facility or platform for electronic commerce.
In this video, I have tried to explain to you the new section which was introduced in union budget 2020 i.e. TDS u/s 194-O - TDS on payments made to e-commerce participants which is going to be applicable from w.e.f 01.10.2020.
Latest update:
On 13th May 2020, our finance minister has announced various relief under which TDS rate for section 194-O is going to be reduced by 25% i.e. effective rate of TDS u/s 194-O is going to be 0.75% for the remaining financial year 2020-21 i.e. from 1st October 2020 to 31st March 2021.
This reduced rate would be applicable for the financial year 2020-21 only.
In this case, ECO i.e. e-commerce operator has to be responsible for paying any sum to the ECP i.e. e-commerce participants for conducting electronic commerce on the digital platform which is owned, manages or operated by such ECO.
I have introduced few courses free of cost for you only so lets join me to get more benefit of these sessions. Detailed video will be published soon on this.
Dear Friends, My self CA Vikas Sharma. I have introduced this channel for Accounts and Income tax related topics. Please watch the video till end and also like the video, subscribe the channel.
In this video we will discuss the newly section 194 O insert by Finance Bill in Budget 2020.
Insertion of new Section 194-O proposed in Finance Bill, 2020 (Budget, 2020) that talks about TDS (Tax Deduction at Source) applicability on E-Commerce operators. E-commerce operators now liable to deduct 1% TDS on amount of gross sale/services provided by e-commerce participants to customers. To know more watch this video.
#TDSonEcommerce
#Section194O
#TDSononlineseller
#Budget2020
Where sale of goods or provision of services of an #e-commerce participant is facilitated by an e-commerce operator through its digital or electronic facility or platform (by whatever name called) then such e-commerce operator shall deduct TDS 1%
Higher TDS : Consequential amendments are being proposed in section 206AA (to provide for tax deduction at 5 % in non-PAN/ Aadhaar cases.
“electronic commerce” is defined to mean the supply of goods or services or both, including digital products, over digital or electronic network.
e-commerce operator” is defined to mean any person who owns, operates or manages digital or electronic facility or platform for electronic commerce and is a person responsible for paying to e-commerce participant
e-commerce participant” is defined to mean a person resident in India selling goods or providing services or both, including digital products, through digital or electronic facility or platform for electronic commerce.
In this video, I have tried to explain to you the new section which was introduced in union budget 2020 i.e. TDS u/s 194-O - TDS on payments made to e-commerce participants which is going to be applicable from w.e.f 01.10.2020.
Latest update:
On 13th May 2020, our finance minister has announced various relief under which TDS rate for section 194-O is going to be reduced by 25% i.e. effective rate of TDS u/s 194-O is going to be 0.75% for the remaining financial year 2020-21 i.e. from 1st October 2020 to 31st March 2021.
This reduced rate would be applicable for the financial year 2020-21 only.
In this case, ECO i.e. e-commerce operator has to be responsible for paying any sum to the ECP i.e. e-commerce participants for conducting electronic commerce on the digital platform which is owned, manages or operated by such ECO.
I have introduced few courses free of cost for you only so lets join me to get more benefit of these sessions. Detailed video will be published soon on this.
4 سال پیش
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