Searching for Tcs On Sale Of Jewellery information? Follow the links below to find all the information you need and more.
https://taxguru.in/income-tax/tcs-on-jewellery-sale-removed-or-kept-with-threshold-of-rs-2-lakhs.html
Section 206C (1D) provides for TCS obligation on sale of jewellery, sale of bullion, and residuary limb being any other goods (other than bullion or jewellery),if the value of consideration received in cash exceeds specified limits as under:
https://mydigitalfiling.in/tcs-on-sale-of-goods/
The Finance Act 2020 has introduced a general provision for collection of TCS on sale of goods. Jewellery, being a movable property, is covered within the term goods. There is no specific exclusion under Section 206C (1H) for collection of TCS on sale of 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 consideration exceeds two lakh rupees.
https://www.taxheal.com/no-tcs-sale-jewellery-w-e-f-01-04-2017.html
Jan 04, 2017 · TCS on sale of jewellery. Summary: TCS @ 1% required to be deducted on sale of Jewellery exceeding Rs 5,00,000/- in cash.However as per Finance Bill 2017 w.e.f 01.04.2017 this Provision of deduction of TCS on sale of jewellery is to be abolished.. Reasons for no TCS on sale of Jewellery from 01.04.2017: As there will be restriction of transaction in cash more than Rs 3,00,000/-, …
https://www.simpletaxindia.net/2012/03/tcs-on-cash-sale-of-bullion-and.html
Mar 16, 2012 · 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.
https://www.businessinsider.in/Pay-1-TCS-if-you-buy-gold-above-Rs-2-lakh-from-April-1/articleshow/57234485.cms
Feb 19, 2017 · The Income Tax Department has been levying 1 per cent TCS on cash purchase of bullion in excess of Rs 2 lakh and jewellery in excess of Rs 5 lakh since July 1, 2012. However, the Budget for 2016-17...
https://www.consultease.com/uncategorized/tcs-under-section-206c1h-of-income-tax-act/
Regarding the supply of Jewellery: Jewellery comes under the definition of Goods. So, the supply of jewellery is covered under TCS provisions. If the threshold limit of Rs.10 Cr by seller and Sale consideration limit of Rs.50 Lakhs between seller and buyer in the F.Y.2018-19, TCS provisions shall be applicable on supply of Jewellery.
https://thetaxtalk.com/2020/11/07/tcs-code-for-tds-payment-tds-code-for-tcs-payment/
Nov 07, 2020 · TCS on sale on Motor vehicle: 6CL: 206C: TCS on sale in cash of any goods (other than bullion /jewellery) 6CM: 206C: TCS on providing of any services (other than Ch-XVII-B) 6CN: 206C: TCS on foreign remittance: 6CO: 206C: TCS on sale of Goods: 6CP: Payment of accumulated balance due to an employee: 2AA: Income in respect of units kof investment ...
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.
https://www.business-standard.com/article/economy-policy/buying-jewellery-over-rs-2-lakh-in-cash-will-attract-1-tds-from-april-117021900231_1.html
Cash purchases of jewellery will attract one per cent tax collected at source (TCS) 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 one per cent TCS on cash purchase of above Rs 2 lakh.
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