Hosted on MSN

Luxury Buyers to Pay More Tax: 1% TCS Now Applicable on High-End Items Like Watches, Yachts & Designer Bags

If you're planning to purchase a luxury watch, yacht, designer handbag, or even an antique artwork, get ready to spend a little extra. As per a recent notification by the Central Board of Direct Taxes ...
Hosted on MSN

Pay new income tax TCS of 1% on these luxury goods above Rs 10 lakh; CBDT issues notification

The Central Board of Direct Taxes (CBDT) has issued a notification specifying the list of luxury goods on which tax collected at source (TCS) will be levied. The CBDT has issued two notifications in ...