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TCS of sale of motor vehicle
If a company engaged in business other than sale or manufacture of motor vehicles, sells motor vehicle of value exceeding ₹10laks, Whether TCS at 1% has to be done?
Replies (3)
Company is a prescribed seller under section 206C(1F) and required to deduct TCS @ 1% when motor vehicle sale value exceeds 10 lakhs ,
PROVIDED BUYER IS NOT UNDER EXEMPTED CATEGORY and hence not a prescribed buyer.
PROVIDED BUYER IS NOT UNDER EXEMPTED CATEGORY and hence not a prescribed buyer.
Exceed sale consideration 10 lakh deduct tcs 1 %on sales consideration from buyer
Dheeraj , it's not that way. Above 10 Lakhs = TCS 1%.
The whole list is there of buyers and sellers for TCS purpose of 1% under section 206C(1F).
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