TCS APPLICABILITY

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This discussion clarifies whether Tax Collected at Source (TCS) applies to the sale of motor cars when transferring stock between co-dealers. The consensus is that TCS is not applicable to such stock transfers, as they are not considered final sales. For added certainty, obtaining a certificate from your Assessing Officer stating TCS inapplicability is suggested.

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(Querist)
18 March 2020 Dear Sirs
Whether TCS under Sale of motor car on value exceeding Rs 1000000 Is to be collected for co dealer stock transfer.
Transfer is done at cost giving margin in discount.

7004950802
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Eswar Reddy S

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Eswar Reddy S (Expert)
18 March 2020 It's not applicable on stock transfer.. TCS applicable on sale value
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Eswar Reddy S

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Eswar Reddy S (Expert)
18 March 2020 Since it is not sale , TCS is not applicable
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Eswar Reddy S

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Eswar Reddy S (Expert)
18 March 2020 Alternatively to be on safe side, you can get a certificate from your AO stating that TCS not applicable.
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Gokul Sharma

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Gokul Sharma (Querist)
18 March 2020 Thank you very much sir
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Aashok Kumar Sharmapro badge

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Aashok Kumar Sharmapro badge (Expert)
25 May 2020 TCS is not applicable in your case.
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