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Tds on sale of scrap

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(Querist)
28 May 2013 Hi,

Is there any provision in IT Act to deduct tax on sale amount of scrap in public auction? The amount expected is about 30 Lacs.

Thank you in advance
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
28 May 2013 Please refer to section 206C of the income tax with regard to tax collection at source on sale of scrap

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