TCS
This query is : Resolved
08 January 2011
Hi
CESS is not applicable
CESS is not applicable
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.
08 January 2011
wat i the rate of tcs and it is apllicable on which transaction?
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:]
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:]
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