Answers On Topic: section 206C(1H)
During the F.Y 2024-25 the assessee sold the coal and on that TCS liability arises u/s 206C(1)(vii), which reads as under:- "(vii) Minerals, being coal or lignite or iron ore - One per cent:" TDS u/s 194Q was done by purchaser Query : Whether in view of the fact that purchaser has made TDS u/s 194Q than the seller is not liable for TCS u/s 206C(1)(vii) ?
► Read Answer
During the F.Y 2024-25 the assessee sold the coal and on that 206-CJ i.e.. TCS liability arises TDS u/s 194Q was done by purchaser Query : Whether in view of the fact that purchaser has made TDS u/s 194Q than the seller is not liable for TCS u/s 206-CJ ?
► Read Answer
TCS Liability u/s 206C(1)(vii)