Tax collected at source
This query is : Resolved
08 April 2015
Assessee company is selling moulding and logs of timber whether TCS applicable on assessee???
08 April 2015
scrap of manufacturing activity attracts tcs u/s 206c
08 April 2015
scrap of manufacturing activity attracts tcs u/s 206c.
08 April 2015
TCS provision is not for sale of Scrap only.
Timber obtained under a forest lease or
other mode attracts TCS provision under Section 206C.
Since it is moulding and logs of timber in my view provision of Section 206C will not be attracted.
Still wait for views from other experts.
Timber obtained under a forest lease or
other mode attracts TCS provision under Section 206C.
Since it is moulding and logs of timber in my view provision of Section 206C will not be attracted.
Still wait for views from other experts.
09 April 2015
Sanjay Sir can you provide any supporting of your ans. I need it urgently
CA AnKiT BoHrA (AB)
(Expert)
09 April 2015
https://www.simpletaxindia.net/2008/12/tax-collection-at-sourcetcs-provisions.html
09 April 2015
Please check out the provision of Section 206C.
09 April 2015
Sanjay Sir I have checked there is no definition of Timber, then how to justify that mouldings etc. made of timber is excluded.
09 April 2015
Sanjay Sir I have checked there is no definition of Timber, then how to justify that mouldings etc. made of timber is excluded.
09 April 2015
Yes Neetu Ji this is where my doubt is. Timber has not been defined. I think it is being referred to as raw timber. Any product made of timber will not attract this provision. In case of doubt it is always advisable to deduct TCS.
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