Tax collected at source

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neetu

neetu (Querist)
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08 April 2015 Assessee company is selling moulding and logs of timber whether TCS applicable on assessee???

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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08 April 2015 scrap of manufacturing activity attracts tcs u/s 206c

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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08 April 2015 scrap of manufacturing activity attracts tcs u/s 206c.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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08 April 2015 TCS provision is not for sale of Scrap only.

Timber obtained under a forest lease or
other mode attracts TCS provision under Section 206C.

Since it is moulding and logs of timber in my view provision of Section 206C will not be attracted.

Still wait for views from other experts.

neetu

neetu (Querist)
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09 April 2015 Sanjay Sir can you provide any supporting of your ans. I need it urgently

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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09 April 2015 http://www.simpletaxindia.net/2008/12/tax-collection-at-sourcetcs-provisions.html

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 April 2015 Please check out the provision of Section 206C.

neetu

neetu (Querist)
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09 April 2015 Sanjay Sir I have checked there is no definition of Timber, then how to justify that mouldings etc. made of timber is excluded.

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neetu

neetu (Querist)
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09 April 2015 Sanjay Sir I have checked there is no definition of Timber, then how to justify that mouldings etc. made of timber is excluded.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 April 2015 Yes Neetu Ji this is where my doubt is. Timber has not been defined. I think it is being referred to as raw timber. Any product made of timber will not attract this provision. In case of doubt it is always advisable to deduct TCS.

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