Monthly Archives: July 2025

Section 206C(1G): TCS on Foreign Remittances and Tour Packages

Section 206C(1G) of the Income Tax Act, 1961 mandates tax collection at source on specified foreign transactions. It applies when an authorized dealer receives funds for remittance under the Liberalized… Read more »

Section 206C(1F): TCS on Sale of Motor Vehicles and Luxury Goods

Section 206C(1F) of the Income Tax Act, 1961 requires sellers to collect tax at source (TCS) on the sale of motor vehicles exceeding a prescribed threshold. Effective from 1st April 2025,… Read more »