In the Budget of FY:24-25, the scope of including more luxury items beyond motor cars was announced with the option to notify additions from time to time at a future date.
Vide Notifications Nos. 35/2025 and 36/2025, u/s 206C(1F), following luxury goods have been added to the list as under:
| Sl. No. | Nature of goods |
| 1. | any wrist watch |
| 2. | any art piece such as antiques, painting, sculpture |
| 3. | any collectibles such as coin, stamp |
| 4. | any yacht, rowing boat, canoe, helicopter |
| 5. | any pair of sunglasses |
| 6. | any bag such as handbag, purse |
| 7. | any pair of shoes |
| 8. | any sportswear and equipment such as golf kit, ski-wear |
| 9. | any home theatre system |
| 10. | any horse for horse racing in race clubs and horse for polo |
TCS at 1% will apply on the purchase of motor cars and all the above items where the value of goods exceeds Rs. 10,00,000.
This has come into force with effect from 22nd April ’25.
Download the Official Notifications:
To read the full details of Notifications Nos. 35/2025 and 36/2025, dated 22nd April 2025, you can download the official document from the following link:
Notifications Nos. 35/2025
Notifications Nos. 36/2025
Use TDSMAN Software to file seamless & error-free TDS / TCS returns, without any professional help.
What is the percentage
The TCS rate applicable is 1% where the value of the specified goods exceeds Rs. 10 lakh.