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ntproductions

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  1. Now we have to add the PAN details in the billing information section with the applicable category. and the TDS will be deducted at the very first step of Payment done by the customer. so in our case, it is Fiver. and for the Payment portals, we have already submitted the details but there will be mo tex deductions. and the TDS is only applicable when you earn more than 5 lakh in a financial year. and we still have 2 month to end this financial year. you might have to contact customer support, if you don’t get that amount on 1st April.
  2. TDS stands for tax deducted at source. … The company or person that makes the payment after deducting TDS is called a deductor and the company or person receiving the payment is called the deductee. It is the deductor’s responsibility to deduct TDS before making the payment and deposit the same with the government. Section 194O-TDS on Payments Made to e-Commerce ParticipantsE-commerce operator is not required to deduct TDS if the gross amount of sale of goods, services, or both during the previous year does not exceed Rs 5 lakh and if the e-Commerce participant has furnished his PAN or Aadhaar. If the e-Commerce participant does not furnish his PAN or Aadhaar, TDS must be deducted at the rate of 5%, as per provisions of Section 206AA. So please add your PAN details as soon as possible to your accounts, to avoid a 5% deduction.
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