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TCS of sale of motor vehicle


Madhushri Das   05 December 2019

Madhushri Das

 2 likes  26 points

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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?

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Kapadia Pravin   05 December 2019

Kapadia Pravin

 917 likes  14293 points

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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.

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dheeraj pandey   05 December 2019

dheeraj pandey

 15 points

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Exceed sale consideration 10 lakh deduct tcs 1 %on sales consideration from buyer

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Kapadia Pravin   05 December 2019

Kapadia Pravin

 917 likes  14293 points

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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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