TCS ON SCRAP SALE..
This query is : Resolved
Quick Summary
01 April 2026
TCS RATE ON SCRAP SALE FOR F.Y.2026-2027 AND UNDER WHICH SECTION NEEDS TO BE COLLECTED?
01 April 2026
Applicable Section: Tax must be collected under Section 394 of the Income Tax Act, 2025. This new Act replaces the Income Tax Act, 1961, starting April 1, 2026.
Revised Rate: A uniform rate of 1% applies to scrap sales.
Revised Rate: A uniform rate of 1% applies to scrap sales.
02 April 2026
As per Income Tax,2025, use (Code 1073 ) under section 394(1) [Table: SL. No.4] Sale of Scrap TCS Applicable@2%
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- STCG FOR GOLD ETFs
- STCG on ETF gold & silver
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- REGARDING GST LIABILITY/....
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
