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Urgent. . for tcs on jewellry. .

353 views 2 replies

sudhir munjal

Student

53 Points Joined December 2012

evry seler s requrd to colect tax @ 1% on jewelry sales if it exceeds rs.2 lakh..! My query is- a persn say housewife..(obviously nt having TAN)..sells jewelary of rs.20 lac nd colect tcs..hw she would be depositing d same nd would file tcs return (knwng d fact she dnt hv PAN and TAN). ? Is der any spcl chalan for this . ?

Replies (2)

Jayalakshmi Anshuman

Chartered Accountant

69 Points Joined November 2009

FOr the purposes of section 206C, Seller excludes individuals / HUFs who are outside the purview of section 44AB during the financial year immediately preceding the financial year in which the specified goods are sold. Please check the status of the seller in your case.