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TCS CAR PURCHASE
Buying a car or just helping govt fill coffers? CA shares harsh middle-class reality of owing car in IndiaA LinkedIn post by CA Arvind C Thomas has sparked debate over high taxes on cars in India. The post highlights that a Hyundai Creta attract...23 Jun, 2025, 03.23 PM IST- Catch the nouveau riche! Income tax dept casts a new dragnetIndia's burgeoning affluent class, particularly in smaller towns, is driving luxury goods sales, often evading income tax. To address this,...23 Apr, 2025, 09.58 PM IST
- New relief for income taxpayers: CBDT allows other person to claim TCS credit for tax paid on expenses like foreign travel, study abroadNew relief for income taxpayers on tax collected at source: The income tax department has amended the income tax laws to allow claiming of ...17 Oct, 2024, 04.00 PM IST
- TCS paid on foreign remittances, purchase of car can be used to lower TDS on salaryTCS on Foreign remittances: Budget 2023 raised TCS on most foreign remittances under LRS to 20%. The initial implementation was met with cr...23 Jul, 2024, 02.54 PM IST
- Tax collected at source: You have to pay TCS on bike, EV, car of more than this amountThe 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 i...30 Oct, 2023, 02.16 PM IST
- 9 common money transactions that you can still do with inoperative PAN cardYour PAN will become inoperative if it is not linked to Aadhaar by June 30, 2023. Though inoperative PAN will make it difficult for an indi...13 Jul, 2023, 10.04 AM IST
- Budget 2020: 5% tax collection at source for remittances over Rs 7 lakhThe finance bill states that banks who receive Rs 7 lakh from an individual for remittance out of India under the LRS or from a seller of a...02 Feb, 2020, 10.38 AM IST
- High value cars, jewellery to become cheaper as TCS to be excluded in computing GSTThe CBIC in a circular said that the TCS amount would be excluded from the value of goods while computing the Goods and Services Tax (GST) ...10 Mar, 2019, 12.05 PM IST
- No tax except on marginal profit made by second-hand car dealers: Hasmukh AdhiaIt's only a breather, there will be tax collected at source for e-commerce cos after 2 months:27 Jun, 2017, 04.01 PM IST
- 1% TCS on cash buy not to apply on embassies, UN bodies, GovtThe Central Board of Direct Taxes (CBDT) has notified the classes of buyers on whom the TCS provisions will not apply.22 Aug, 2016, 05.01 PM IST
- 1 per cent tax to be levied on car purchase via cashFinance minister Arun Jaitley had announced 1 per cent tax collected at source (TCS) on cars costing more than Rs 10 lakh during his budget...09 Jun, 2016, 11.23 AM IST
- No TCS on sale of cars exceeding Rs 10 lakh to govenrnment departments: CBDTCBDT, in a set of Frequently Asked Questions (FAQ), said that the 1 per cent TCS will apply only to retail sales and has to be collected by...08 Jun, 2016, 06.47 PM IST
- Cash purchase of goods, services over Rs 2 lakh to attract 1% taxBesides, sale of options will also attract increased Securities Transaction Tax (STT) of 0.05 per cent from tomorrow. Currently, STT is 0.0...31 May, 2016, 08.57 PM IST
- How Budget 2016 is making the rich poorTax at the rate of 10% of gross amount of dividend will be payable by individuals, HUFs and firms receiving dividend in excess of Rs 10 lak...29 Feb, 2016, 06.15 PM IST
- Micro-measures can have macro-impactWhat I'd like to see is for companies to have an impact beyond their own walls," said jury member Rajat Gupta, during the JSW-TOI 2014 Eart...03 May, 2014, 06.39 AM IST
- Tata Sons sells 1% in TCS to repay JLR loanTata Sons has sold around 1% of its stake in TCS, the group’s biggest company by market cap, to help refinance a $2-billion bridge loan tak...07 May, 2009, 03.46 AM IST
- Tata Sons sells 1% in TCS to repay JLR loanTata Sons has sold around 1% of its stake in TCS, the group’s biggest company by market cap, to help refinance a $2-billion bridge loan tak...07 May, 2009, 03.46 AM IST
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