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View: Section 194-O of Income-Tax (I-T) Act would create difficulties for e-commerce cos


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View: Section 194-O of Income-Tax (I-T) Act would create difficulties for e-commerce cos

Synopsis194-O’s approach of one-size-fits-all won’t work in India, considering existing sectoral complexities, underlying costs of compliance.By Rameesh KailasamBudget 2020 introduced Section 194-O of the Income-Tax (I-T) Act. Its primary intent was to widen the tax base by bringing the ecommerce ecosystem into it. Participants in this ecosystem, it was believed, neither paid taxes nor filed…

View: Section 194-O of Income-Tax (I-T) Act would create difficulties for e-commerce cos

Synopsis

194-O’s formulation of 1-dimension-fits-all won’t work in India, pondering existing sectoral complexities, underlying costs of compliance.

By Rameesh KailasamBudget 2020 launched Portion 194-O of the Profits-Tax (I-T) Act. Its foremost intent used to be to widen the tax spoiled by bringing the ecommerce ecosystem into it. Participants in this ecosystem, it used to be believed, neither paid taxes nor filed their tax returns, thereby escaping tax authorized responsibility.194-O exempted non-resident ecommerce contributors, save a ceiling limit of Rs 5 lakh for resident participants/Hindu Undivided Households (HUFs) and

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