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Tcs of 1% on purchase of car

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(Querist)
03 June 2016 Please clarify the applicability of the 1% TCS on purchase of car exceeding Rs 10 lakhs and purchase of any goods and services exceeding Rs 2 lakhs. Does in both the cases the minimum limit is exceeding 10 lakhs and 2 lakhs or Rs 10 lakhs or Rs 2 lakhs.
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CA Rohit Jain

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CA Rohit Jain (Expert)
03 June 2016 read limits as 10,00,001 and 2,00,001 for clear understanding
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Rupesh Jain

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Rupesh Jain (Expert)
08 June 2016 its exceeds then TCS applicable till round off 2 lacs and 10 lacs then not applicable.




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