Is Tax Collected at Source (TCS) applicable in respect of Scrap? If any latest ammendments regarding TCS, please let me know.
Is Tax Collected at Source (TCS) applicable in respect of Scrap? If any latest ammendments regarding TCS, please let me know.
Namita Gupta
(chartered accountant)
(105 Points)
Replied 18 December 2008
YES , TCS IS APPLICABLE ON SCRAP @ 1%.
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 18 December 2008
TCS is applicable on scrap @ 1%
For more details refer Section 206C of IT Act, 1961
Sunil Bhati
(Accounts & Finance)
(22 Points)
Replied 28 December 2011
Is TCS applicable on sale of empty Cement bags?
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