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https://taxguru.in/income-tax/tcs-on-jewellery-sale-removed-or-kept-with-threshold-of-rs-2-lakhs.html
The Finance Bill 2017 proposes to omit specific reference to jewellery’ from section 206C(1D) such that post amendment, TCS obligation would be in respect of cash sale of “bullion” or “any other goods …
https://mydigitalfiling.in/tcs-on-sale-of-goods/
FAQ 12. Whether TCS is liable to be collected on Sale of Jewellery by a Jeweller? Up to the previous year 2016-17, Section 206C(1D) requires the collection of tax at source at the rate of 1% from the sale consideration received on cash sale of bullion, jewellery …
https://taxguru.in/income-tax/tcs-transactions-jewellery-bullion-coal-lignite-iron-ore.html
TCS on cash sale of bullion and jewellery [Sub-section (1D) to Section 206C] It has been proposed that the seller of bullion and jewellery shall, at the time of receipt of such amount in cash, collect tax at the rate of 1% of sale consideration from every buyer of bullion and jewellery, if sale …
https://www.simpletaxindia.net/2012/03/tcs-on-cash-sale-of-bullion-and.html
Mar 16, 2012 · TCS on cash sale of bullion and jewellery. To curb the flow of unaccounted money in the bullion & jewellery trade, the Finance Bill proposes the collection of tax at source (TCS) by the seller at the rate of 1 per cent of the sale amount from the buyer for all cash transactions exceeding Rs.2 lakh. Responding to the representations made by the jewellery …
https://thetaxtalk.com/2019/02/18/cash-sale-attracts-tcs/
Feb 18, 2019 · One such mode is by adoption the tax collection at source (TCS) on cash sale. To regulate cash transactions in sale of goods and services, the Finance Act 2016 has expanded the scope of section 206C (ID) to provide that the seller shall collect tax @ 1% from the purchaser on sale in cash of any goods (other than bullion and jewellery…
https://www.businessinsider.in/Pay-1-TCS-if-you-buy-gold-above-Rs-2-lakh-from-April-1/articleshow/57234485.cms
Feb 19, 2017 · With this move, the TCS threshold for jewellery will be brought at par with that of bullion from April 1. The Income Tax Department has been levying 1 per cent TCS on cash purchase of …
https://www.itrtoday.com/has-tcs-on-jewellery-been-abolished-in-union-budget-2017-18/
It was specified therein that if a seller of jewellery receives sale consideration in cash and the amount received in cash is more than Rs.5 lakhs, then the seller is required to collect TCS from the purchaser at the rate of 1% of such sale consideration received in cash. Apart from the provisions regarding TCS on jewellery, the Section 206 (1D) of the Income Tax Act, 1961 also prescribes for TCS …
https://economictimes.indiatimes.com/wealth/tax/buying-jewellery-over-rs-2-lakh-cash-to-attract-1-tcs-from-april-1/articleshow/57233171.cms
Feb 20, 2017 · NEW DELHI: Cash purchases of jewellery will attract 1 per cent TCS (tax collected at source) from April 1 if the amount exceeds Rs 2 lakh, as against the current threshold of Rs 5 lakh. Once the Finance Bill 2017 is passed, jewellery will be treated on par with general goods which attract 1 per cent TCS on cash purchase of above Rs 2 lakh.
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