Tcs on scrap
This query is : Resolved
kalyani Khetle
(Querist)
07 April 2012
how to pay TCS on scrap
Nature of payment select for if
for e.g. 94-C labour contract
Nature of payment select for if
for e.g. 94-C labour contract
Ravindra Srinivasa
(Expert)
08 April 2012
Hi Kalyani,
TCS is applicable on the following transactions.
1. Alcoholic liquor for human Consumption TCS @ 1%
2. Tendu leaves @ 5%
3. Timber obtained under forest lease @ 2.5%
4. Timber obtained by any mode other than a forest lease @ 2.5%
5. Any other forest produce not being timber or tendu leaves @ 2.5%
6. Scrap @ 1%
7. Parking lot @ 2%
8. Toll plaza @ 2%
9. Mining & Quarrying @ 2%
TCS is covered u/s 206 of the Income Tax Act.
TCS is applicable on the following transactions.
1. Alcoholic liquor for human Consumption TCS @ 1%
2. Tendu leaves @ 5%
3. Timber obtained under forest lease @ 2.5%
4. Timber obtained by any mode other than a forest lease @ 2.5%
5. Any other forest produce not being timber or tendu leaves @ 2.5%
6. Scrap @ 1%
7. Parking lot @ 2%
8. Toll plaza @ 2%
9. Mining & Quarrying @ 2%
TCS is covered u/s 206 of the Income Tax Act.
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