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Tax collection at source (TCS)

GANESH VERMA (8 Points)

16 November 2017

whether TCS is applicable on each sale of motor vehicle or on aggregate value of sale during the year?

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J. K. Ratan (Compliance Advisor) (794 Points)
Replied 16 November 2017

Dear Sir

As per section 206C of Income Tax Act 1961, A Vehicle purchase more than 10 lac attracts 1% TCS.

In other words.. If the sale value of vehicke is less than 10 lac to a person during the year than need not to deduct tcs but once it crossed the purchase value limit 10lac you will have to dedect tcs on whole amount irrespective or purchase one vehicle or more on same day or during the year

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