Tcs on sale of scrapped machinery
This query is : Resolved
29 January 2014
Dear All,
Is TCS applicable on sale of old scrapped machinery (machinery is used in production)?
Is TCS applicable on sale of old scrapped machinery (machinery is used in production)?
AVTAR SINGH
(Expert)
29 January 2014
No. TCS is not applicable on such sale. As per explanation (b) to section 206C, the scrap means waste and scrap from the manufacture or mechanical working of material which is not usable.
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