05 September 2015
sir,
TCS applicable for sale of gold in cash exceeding 2 or 5 lakh, if signal person purchase the gold above the limit in whole year time to time, can TCS deducted or not
05 September 2015
TCS is being levied on bullion and Jewellery since July 1, 2012, at the rate of 1% on cash purchase of Jewellery worth Rs 5 lakh or more and bullion worth Rs 2 lakh or more.
it should be single purchase not single person, you can not have track on Jewellery purchase
CAclubindia
