12 / Jul 2016
2016
CBDT clarification on amendment in TCS provision
The Central Board of Direct Taxes (CBDT) has recently issued Circular No. 22/2016 dated 8 June 2016 clarifying the amendment in the TCS provisions vide Finance Act, 2016 with regard to sale of motor vehicle exceeding ten lakh rupees and sale of goods and services in cash exceeding two lakh rupees. The clarification provided by the CBDT has been summarised in the below link
CBDT Clarification regarding TCS provisions as amended by the Finance Act 2016