Tcs

This query is : Resolved

aakashgilda (Querist)
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22 March 2014 A Dealer in Scrap trading activity has to collect TCS at the time of sale? As the trader is not engaged in Mfg activity,he is just purchasing the scrap and selling it forward at higher rate.
Whether TCS is applicable while selling the Scrap,should the trader deduct ?

Rupesh Jain

Rupesh Jain (Expert)
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22 April 2014 IN ACT WORD use seller and buyer not the traders . so if you are individual and you sale excess rs. 1 cores then you have to deduct the tcs. other wise not required.

if other case firm or co pvt ltd or ltd.it is required to deducted the tcs.