TDS GETTING DEDUCTED EVEN WHEN SALES ARE LESS THAN 5 LAKH.
According to the rule By Indian Government, E-commerce operator are required to pay or get deducted TDS at 0.5% if their sales exceeds 5 Lakh in total. But amazon is continuously deducting TDS at more than 20% even when my sales are less than 5 Lakh. They are looting small sellers to encourage cocoblu retail.
TDS GETTING DEDUCTED EVEN WHEN SALES ARE LESS THAN 5 LAKH.
According to the rule By Indian Government, E-commerce operator are required to pay or get deducted TDS at 0.5% if their sales exceeds 5 Lakh in total. But amazon is continuously deducting TDS at more than 20% even when my sales are less than 5 Lakh. They are looting small sellers to encourage cocoblu retail.
3 replies
Seller_lFg7VUzl8pJZA
TDS under section 194O is 1 % and 0.10 % wef 1st October,24, there is no slab of 0.50%.
20 % is deducted when PAN information is not provided. Not sure whether this provision is applicable for 194O. As per my knowledge, such percentage is 5 % in such case.
TDS under 194O is deducted when sales is higher than 5 L and no deduction is made for annual sales less than that.
How lower or higher TDS deduction related to Cocoblu ? Whatever is deducted is transferred to you, if you have PAN. Do you mean to say, Amazon deducts lesser from Cocoblu at a lower rate and "loots" you? That's ridiculous.
You need to check you calculations again, perhaps the percentage you deduced is actually a deduction for some other expenses.
