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[Cites 0, Cited by 0] [Section 394] [Entire Act]

Union of India - Subsection

Section 394(1) in The Income Tax Act, 2025

(1)Every person, as specified in column C of the Table below shall collect tax––
(a)on receipts specified in column B;
(b)at the rate as specified in column D; and
(c)at the time of debiting of the amount payable by the buyer or licensee or lessee to the account of the buyer or licensee or lessee or at the time of receipt of such amount from the said buyer or licensee or lessee in cash or by way of a cheque or a draft or any other mode, whichever is earlier.
TableTAX COLLECTION AT SOURCE
Sl. No.Nature of receiptPersonRate of Tax Collected at Source
ABCD
1.Sale of alcoholic liquor for human consumption.Seller.1%
2.Sale of tendu leaves.Seller.5%
3.Sale of timber whether obtained under a forest lease or otherwise; or any other forest produce (not being timber or tendu leaves) obtained under a forest lease.Seller.2%
4.Sale of scrap.Seller.1%
5.Sale of minerals, being coal or lignite or iron ore.Seller.1%
6.Sale consideration exceeding ten lakh rupees in case of—(a) motor vehicle; or(b) any other goods, as may be notified by the Central Government.Seller.1%
7.Remittance under the Liberalised Remittance Scheme of an amount or aggregate of the amounts exceeding ten lakh rupees—Authorised dealer.(a) 5% for purposes of education or medical treatment;(b) 20% for purposes other than education or medical treatment.
8.Sale of "overseas tour programme package" including expenses for travel or hotel stay or boarding or lodging or any such similar or related expenditure.Seller.(a) 5% of amount or aggregate of amounts up to ten lakh rupees;(b) 20% of amount or aggregate of amounts exceeding ten lakh rupees.
9.Use of parking lot or toll plaza or mine or quarry for the purpose of business, excluding mining and quarrying of mineral oil (including petroleum and natural gas).Licensor or Lessor.2%