Tag: Section 206C(1F)

TCS on Sale of Motor Vehicles and Luxury Goods – Section 394(1) (206C(1F))

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The provisions relating to collection of tax at source on sale of specified high-value goods have been restructured under the Income-tax Act, 2025. The earlier Section 206C(1F) of the Income-tax… Read more »

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

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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 »