All you need to know about TCS on sale of Goods

• September 3, 2020
• CA Chandan Agarwal's Office

TDS and TCS have been a reliable weapon for the Government over the years serving the varied objectives of preventing tax evasion, widening the tax base and ensuring steady revenue collection for the Government. Thus, over the years, the Government’s clear intention has been to bring as many transactions under the ambit of TDS/TCS as possible. With the same intention of widening and deepening the tax base the Finance Act 2020 has introduced Sec 206C (1H) which reads as follows:

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