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New 1% TCS: Know the list of specified goods, threshold, effective date and more as CBDT releases FAQ
As per the Finance Minister’s announcement made in the July 2024 Budget, a new tax collected at source (TCS) has been imposed on a specified list of luxury goods sold in India effective from April 22, ...
The scrapping of a key provision for tax collected at source (TCS) on sale of goods will provide a major relief to foreign investors, particularly in high value cross border transactions. Sub-section ...
The tax will also be applied on the purchase of yachts, helicopters, rowing boats, and canoes. Other items include sunglasses, handbags, purses, shoes sportswear, equipment like golf kits, ski gear.
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