The Income-tax (17th Amendment) Rules 2020 have brought in certain procedural amendments in the following rules:
Effective from 1st October 2020
- Rule 37CA (Time for TCS payment);
- Rule 37-I (TCS Credit);
- Rule 31AA (TCS Return); and
- Form No. 27 EQ (TCS Return to give effect to amendments in TCS Section i.e. 206C as introduced in the Finance, Act, 2020 whereby TCS applicability was extended to the following transactions effective from 1st October 2020. To read more, please refer to the attached document:- Income Tax 17th Amendment Rules 2020
Disclaimer:-
The information contained herein is in summary form based on the interpretation of Notification dated 24th July 2020 issued by CBDT. While the information is believed to be accurate to the best of our knowledge, we do not make any representations or warranties, express or implied, as to the accuracy or completeness of this information. Readers should conduct and rely upon their own examination and analysis and are advised to seek their own professional advice. This document is not an offer, invitation, advice, or solicitation of any kind. We accept no responsibility for any errors it may contain, whether caused by negligence or otherwise or for any loss, howsoever caused or sustained, by the person who relies upon it.