Imposition of TDS/TCS: What would be the impact on online transactions?
From 1 October 2020, section 194-O has also been introduced under the I-T act, which imposes 1% concession tax on e-commerce transactions and 5% in absence of PAN card and Adhaar card.
Dr. Suresh Surana, Founder, RSM India, explains the implications in this article in Financial Express today.