Section 206C(1H) → Section 243
TCS on sale of goods
Quick Answer
Section 206C(1H) of the Income Tax Act, 1961 (TCS on sale of goods) corresponds to Section 243 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 206C(1H)
Provision Summary
Seller must collect 0.1% TCS on sales exceeding Rs. 50 Lakhs if their turnover is > Rs. 10 Crores.
Sec 243
Provision Summary
Retained. Secondary to 194Q. Only applicable if the buyer has not deducted TDS under 194Q.
Key Changes & Highlights
- Seamless integration with GST e-invoicing to track large value goods movements.
Related Sections
Frequently Asked Questions
What does Section 206C(1H) of the Income Tax Act 1961 deal with?
Section 206C(1H) (TCS on sale of goods) Seller must collect 0.1% TCS on sales exceeding Rs. 50 Lakhs if their turnover is > Rs. 10 Crores.
What is the new section number for Section 206C(1H) under the Direct Tax Code 2025?
Section 206C(1H) of the ITA 1961 maps to Section 243 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 206C(1H) under the new tax code?
Section 206C(1H) is marked as "Retained" with status "Active". Impact: Critical - Governs the sales accounting of all large companies in India.
What are the key changes to Section 206C(1H) under DTC 2025?
Seamless integration with GST e-invoicing to track large value goods movements.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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