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TCS on foreign payment against purchase of furniture

This query is : Resolved 

05 March 2024 Hi

I am going to purchase furniture from Dubai for a cost of Rs. 50 lakh. What would be the statutory compliance to which I should adhere? as per the Income Tax Act, Customs Act, and FEMA Act.

Thanks in advance.

05 March 2024 Income tax no compliance required. TCS not applicable.
Customs duty payable on imports.
Check with your bankers for import payment.



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