Clarity on tcs in automobile sale
This query is : Resolved
06 October 2016
Dear Friends,
I want to clear a doubt on TCS on sale of cars.
Purchase of new car has 4 billing components.
1. Vehicle Billing.
2. Vehicle Insurance.
3. Vehicle Registration.
4. Vehicle Accessories & Extended warranty.
If Billing price of car is say 4,00,000.00 and other components including Insurance, Registration, Accessories warranty is Rs 80,000.00
I am paying Rs 1,99,000.00 in cash and balance by cheque against car.
For all for other components I am paying Rs 80,000.00 in cash.
Now ny query is -
1. Am I liable to pay TCS ??
2. If Yes on What amount ??
Plz update me.
Thanks
I want to clear a doubt on TCS on sale of cars.
Purchase of new car has 4 billing components.
1. Vehicle Billing.
2. Vehicle Insurance.
3. Vehicle Registration.
4. Vehicle Accessories & Extended warranty.
If Billing price of car is say 4,00,000.00 and other components including Insurance, Registration, Accessories warranty is Rs 80,000.00
I am paying Rs 1,99,000.00 in cash and balance by cheque against car.
For all for other components I am paying Rs 80,000.00 in cash.
Now ny query is -
1. Am I liable to pay TCS ??
2. If Yes on What amount ??
Plz update me.
Thanks
06 October 2016
1 Yes.
2 It is on 1,99,000 plus 80,000.
2 It is on 1,99,000 plus 80,000.
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