Certificate Course on GST Taxation & Filing (Recorded Course)
Opportunity for a CA to act as an Investment Banker
Certification Course on Advanced Excel with AI Tools
Certification Course on GSTR-3B Reconciliation with GSTR-2B using AI Tools
Certification Course on ChatGPT and AI Tools for Professionals
Section 206C(1F) of the Income Tax Act, 1961, relates to Tax Collection at Source (TCS) on certain items. The following items come under Section 206C(1F): 1. *Motor Vehicle*: Sale of motor vehicles exceeding ₹10 lakhs. 2. *Scrips*: Transfer of scrips (e.g., shares, bonds, debentures) exceeding ₹5 lakhs. 3. *Foreign Currency*: Remittance of foreign currency exceeding ₹7 lakhs. 4. *Payment for Bulletin/Art/Antiques*: Payment for any bulletin, art, antique, or collectible exceeding ₹5 lakhs. 5. *Payment for Goods/Services*: Payment for any goods or services exceeding ₹2 lakhs. These items are subject to TCS at specified rates, and the seller/collector must collect tax at source and deposit it with the government.
Your are not logged in . Please login to post replies Click here to Login / Register
More recent discussions | Post
India's largest network for finance professionals
Alternatively, you can log in using: