Are Bearded Dragons Dangerous Pets Learn how to claim a TCS refund on your car purchase under Section 206C 1F Understand TCS rules eligibility and the process to ensure a smooth refund when filing your ITR
The seller of a motor vehicle will collect TCS from the buyer if the value of the motor vehicle is over Rs 10 lakh However note that TCS is not an additional tax and this amount can be Understand the TCS on car purchases applicable rates exemptions and compliance procedures Get clarity on how TCS impacts vehicle buyers dealers
Are Bearded Dragons Dangerous Pets
Are Bearded Dragons Dangerous Pets
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From October 1 2023 a TCS rate of 20 will be applicable on foreign payments exceeding Rs 7 lakh in a financial year Foreign payments made for medical and educational purposes have TCS is not applicable if the goods are purchased by an individual for personal consumption This means that if you buy a car a piece of jewelry or any other item for your own
Tax collected at source TCS provisions are also applicable to motor vehicles If you buy any motor vehicles costing above 10 00 000 rupees then seller of the motor vehicle will be When you bought a car which costs above 10 lakh rupees you need to pay 1 Tax Collected at Source TCS TCS is deducted by the dealer and deposited to the government
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Answer TCS is generally not applicable on second hand car purchases from individuals However if you buy a used car from a registered dealer and the sale price exceeds 10 lakhs TCS may apply Under the newly introduced TCS regulations buyers are required to pay a 1 TCS on vehicles exceeding the 10 lakh rupee threshold However failing to furnish a Permanent Account
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https://cleartax.in › tcs-on-car-purchase
Learn how to claim a TCS refund on your car purchase under Section 206C 1F Understand TCS rules eligibility and the process to ensure a smooth refund when filing your ITR
https://economictimes.indiatimes.com › wealth › tax › ...
The seller of a motor vehicle will collect TCS from the buyer if the value of the motor vehicle is over Rs 10 lakh However note that TCS is not an additional tax and this amount can be
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Are Bearded Dragons Dangerous Pets - From October 1 2023 a TCS rate of 20 will be applicable on foreign payments exceeding Rs 7 lakh in a financial year Foreign payments made for medical and educational purposes have
