Tcs of 1% on purchase of car
This query is : Resolved
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.
CA Rohit Jain
(Expert)
03 June 2016
read limits as 10,00,001 and 2,00,001 for clear understanding
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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