S-194-O Payment of certain sums by the e-commerce operator to participant

S-194-O Payment of certain sums by the e-commerce operator to e-commerce participant

Where Sale of goods or provision of services of an e-commerce participant is facilitated by an e-commerce operator through its digital or electronic facility or platform (by whatever name called),

Such e-commerce operator shall, at the time of credit of the amount of sale or services or both to the account of an e-commerce participant or at the time of payment thereof to such e-commerce participant by any mode, whichever is earlier,

Deduct income tax at the rate of 1% of the gross amount of such sales or services or both.

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Explanation

For the purposes of this subsection, any payment made by a purchaser of goods or recipient of services directly to an e-commerce participant for the sale of goods or provision of services or both, facilitated by an e-commerce operator, shall be deemed to be the amount credited or paid by the e-commerce operator to the e-commerce participant and shall be included in the gross amount of such sale or services for the purpose of deduction of income-tax under this sub-section.

No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of an e-commerce participant, being an individual or HUF, where the gross amount of such sale or services or both during the previous year does not exceed Rs. 5 Lakhs and such e-commerce participant has furnished his PAN/ AADHAAR to the e-commerce operator.

A transaction in respect of which tax has been deducted by the e-commerce operator or which is not liable to deduction under this section, shall not be liable to tax deduction at source under any other provision of this Chapter.

For the purposes of this section, the e-commerce operator shall be deemed to be the person responsible for paying e-commerce participants.

5 Mistakes to Avoid while Filing your Income Tax Returns!

electronic commerce means the supply of goods or services or both, including digital products, over a digital or electronic network;

e-commerce operator means a person who owns, operates or manages digital or electronic facility or platform for electronic commerce;

e-commerce participant means a person resident in India selling goods or providing services or both, including digital products, through the digital or electronic facility or platform for electronic commerce;

services include “fees for technical services” and fees for “professional services”, as defined in the Explanation to section 194J.

Sensex, Nifty

Look at how elections affect Sensex, Nifty

Stock markets spin around “sentiment,” and elections play a key role in shaping emotions. In elections, political parties with different political and economic agendas are at odds.

how elections affect Sensex, Nifty

Stock markets spin around “sentiment,” and elections play a key role in shaping emotions. In elections, political parties with different political and economic agendas are at odds. There is always a slight fear of making a home in the minds of investors if the party that is elected can be positive or negative to some companies.

Even changes in views and economic strategies of the government itself or even ministers can change business prospects for different sectors of the economy. Moreover, there is fear in the stock markets that economic policies that are being implemented so far by the ruling party may change if the new government reaches the scene.

It leads to a rise in market volatility, and uncertainty reigns over the roost during this time period. The greater the number of voters who feel confused about who will be the obvious winner, the more stock markets will be affected by this volatility.

Elections in Karnataka

All these political voices have risen as Karnataka approaches the elections next week. Market experts believe that politics will prevail over the economy in Sinksix, as the Silicon Valley of India puts the tone for a series of state elections for the 2019 general elections. Some 2655 candidates will sit in the 224-seat parliament in Karnataka in multi-party elections, Which will be released on May 15. BJP, Congress and Janta D. Dakolar (JDS) The main parties clash in the state.

What should investors do?

Investors should not let political changes and market change their investment decisions. One must remain a long-term investor in equity markets, especially in times of uncertainty. The best option is to allow the portfolios to fluctuate normally and not to try to defer the stock market.

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