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Purchase of used car of rs 2200000
is tds applicable when buying a used car from an individual value of 2200000 ?
Replies (7)
Quick Summary
Yes, TCS applicable.
What is the percentage
Yes TCS u/s 206C(1F) for motor cars is applicable @ 1% if value of car exceeds 10 lakhs rupees.
It is purchased from an individual to a partnership firm. I think TDS is applicable for the firm, it is correct?
If individual is not a retailer then 194Q will attract
Isn't that a little pricey?
What???
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