TCS

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arpit

arpit (Querist)
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08 January 2011 WHETHER CESS TO BE DEDUCTED ON TCS....

B R Ramesh

B R Ramesh (Expert)
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08 January 2011 Hi
CESS is not applicable

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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08 January 2011 Yes not to be collected vide section 2 (8) and proviso to section 2(11) / 2(12) of the Finance Act,2010.

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arpit

arpit (Querist)
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08 January 2011 wat i the rate of tcs and it is apllicable on which transaction?

Ram Avtar Singh

Ram Avtar Singh (Expert)
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08 January 2011 tcs is applicable u/s 206 c of i.tax act and applicable on
following items

(i)Alcoholic Liquor for human consumption

one per cent

(ii)Tendu leaves

Five per cent

(iii)Timber obtained under a forest lease

two and one-half per cent

(iv)Timber obtained by any mode other than under a forest
lease

Two and one-half per cent

(v)Any other forest produce not being timber or tendu leaves

Two and one-half per cent

(vi)Scrap

One per cent:]