As many of you are aware, many E-Commerce sellers are receiving notices/defective returns stating that the Total Aggregate/NET turnover reported in the Income Tax Return is much lower than the Turnover reported by the Marketplaces when they deduct TDS under section 194O. TDS u/s 194-O was introduced in Oct 2020. Since it was only applicable
I have seen many queries related to TDS & TCS in multiple eCommerce seller forums and I’m sure this still confusing for many of us. So, let me try to explain the knowledge that I’ve gained over the last few years by interacting with other sellers in multiple forums, interacting with professionals, and researching online.