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Tcs in case of sale of motor vehicle value rs. 10 lakh above

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 May 2016 In case motor vehicle sold of value Rs. 11 Lakhs and amount of Rs. 20,000 received in cash. So under which section (i.e. under sub section 1 or sub section 1D of section 206C) TCS to be collected?

Or whether liability to collect TCS arises under both sections?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
31 May 2016 The liability to collect TCS arises under one section i.e. on sale of motor vehicle more than 10 lacs.
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Rupesh Jain

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Rupesh Jain (Expert)
31 May 2016 TCS applicable on motor car purchase more than Rs. 10 lacs.




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