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TCS ON LUXURY GOODS
Pay new income tax TCS of 1% on these luxury goods above Rs 10 lakh; CBDT issues notificationTCS on luxury goods: The income tax department has issued two notifications specifying the list of luxury goods on which tax will be collec...- New 1% TCS: Know the list of specified goods, threshold, effective date and more as CBDT releases FAQTCS on luxury goods: The Income Tax Department releases some frequently asked questions (FAQs) on which are the list of specified goods on ...
- Several new items come under TCS as I-T widens tax netThe govt is broadening its tax base by implementing a 1% TCS on luxury items exceeding Rs 10 lakh, effective immediately. This initiative t...
- Luxury products above Rs 10 lakh to attract 1% TCSThe CBDT has mandated a 1% TCS on luxury goods exceeding ₹10 lakh, effective immediately. This includes items like handbags, watches, and c...
- 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,...
- New tax slab rates, capital gains taxation, standard deduction NPS: Effective dates of all Budget 2024 income tax changesIncome tax changes in Budget 2024: Based on the information provided in the budget memorandum, here are the effective dates of different in...
- What Budget 2024 means for taxpayers, consumers and investorsPolicy changes feature reduced gold customs duty, tax benefits for salaried individuals, job incentives, simplified FDI rules, fiscal conso...
- Budget 2024: Price tags get heavier for luxe productsThe Indian government is proposing a 1% tax collected at source (TCS) on luxury products like watches, handbags, and high-end televisions p...
- Luxury goods above Rs 10 lakh like Louis Vuitton handbag, Bulgari jewellery etc. to attract TCS from January 1, 2025TCS on luxury goods, Budget 2024: The budget documents have proposed the levying of TCS (tax collected at source) on notified luxury goods ...
- Invested more than $2 billion in Neu; app revamp has paid off: Tata Digital CEOThe app, which completed a year on April 7, was given a new design as well as improved navigation and payment systems, resulting in its bes...
- Proposed tax on international card purchases may drive sale of luxury brands in IndiaThe Indian government's proposal to impose a 20% tax on expenditures made abroad under the Liberalised Remittance Scheme is expected to boo...
- Motilal Oswal sees 13% upside in Tata Motors stock: 5 reasons whyThe domestic brokerage values Tata Motors stock at 19.3X/16.2X FY24E/FY25E consolidated P/E and 5X/4.2X EV/EBITDA. The shares are currently...
- Retail clients in Europe, UK seek to accelerate transformation: TCSEight out of 10 retail clients are seeking to deliver their business plans faster than ever and are also open to 100% offshoring to meet th...
- Stocks in the news: SBI, Tata Motors, IGL, Gillette India, Hero MotoCorp, TCS and J&K BankTwo-wheelers are neither a luxury nor sin goods and so merit a GST rate revision, Finance Minister Nirmala Sitharaman said.
- 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.
- 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...
- 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...
- 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...
- Broker's call: Oberoi Realty, TCS, Federal Bank, RaymondsJP Morgan has upgraded ratings of Oberoi Realty to ‘Overweight’ from ‘Neutral’ and set target price of Rs 330 on improved policy environmen...
- Global slowdown not necessarily bad for India: Rahul Singh, StanChart SecuritiesIf we look at from a macro perspective for India as well as globally, the trend is definitely not very encouraging for equities.
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