Reg - tcs

The TCS is required to be collected by 'seller' of each motor vehicle exceeding 10 lakhs, whether it is new or old.

The seller for the purposes of collection of lax under section 206C shall be - •

(i) A Central Government or a state Government,

(ii) Any local authority, or corporation or authority established under any Central, State or Provincial Act,

(iii) Any company, firm or cooperative society, or

(iv) An individual or Hindu undivided family who is liable to audit as per provisions of section 44AB during the financial year immediately preceding the financial year in which the goods are sold or the services arc provided.