Applicability of TCS on SCRAP

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 January 2011 Our company engaged in manufacture of lead bars using scrap from batteries and condemned batteries, Lead scrap. By dismantling the above condemned batteries of raw materials, by involvement of manual labour work, we get some scraps and selling the same to outsiders due to unnecessary to us.

My question is the above sale of scrap would affect TCS under IT act?

Guest

Guest (Expert)

20 January 2011 sale of scrap by your company would be liable for TCS under IT act.

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Applicability of TCS on SCRAP

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