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Purchase of used car of rs 2200000

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accounts officer
178 Points Posted on 03 August 2023
is tds applicable when buying a used car from an individual value of 2200000 ?
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On 03 August 2023 at 14:15 Report
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SEO Sai Gr. Hosp.
211715 Points Posted on 03 August 2023

Yes, TCS applicable.             

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On 03 August 2023 at 14:22
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accounts officer
178 Points Posted on 03 August 2023
What is the percentage
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On 03 August 2023 at 14:27
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Chartered Accountant
24588 Points Posted on 03 August 2023
Yes TCS u/s 206C(1F) for motor cars is applicable @ 1% if value of car exceeds 10 lakhs rupees.
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On 03 August 2023 at 14:30
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accounts officer
178 Points Posted on 03 August 2023
It is purchased from an individual to a partnership firm. I think TDS is applicable for the firm, it is correct?
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On 03 August 2023 at 14:42
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Chartered Accountant
24588 Points Posted on 03 August 2023
If individual is not a retailer then 194Q will attract
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On 03 August 2023 at 16:14
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I'm a financial expert
31 Points Posted on 03 August 2023

Isn't that a little pricey?

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On 03 August 2023 at 20:54
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Chartered Accountant
24588 Points Posted on 04 August 2023
What???
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On 04 August 2023 at 12:14


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