Tcs is applicable on sale of car?
This query is : Resolved
29 November 2016
Dear Sir,
I have one query.
I sold my car at Rs. 440000/- for which i received full consideration in Cash. So Whether TCS is applicable for receiving Cash consideration of Rs. 440000/- u/s 206C (1d) or not? Whether it is applicable under other section of income tax?
One thing which I want to tell you that I am not audited party as per section 44AB. So this provision is applicable to me or not?
Please reply immediately.
I have one query.
I sold my car at Rs. 440000/- for which i received full consideration in Cash. So Whether TCS is applicable for receiving Cash consideration of Rs. 440000/- u/s 206C (1d) or not? Whether it is applicable under other section of income tax?
One thing which I want to tell you that I am not audited party as per section 44AB. So this provision is applicable to me or not?
Please reply immediately.
29 November 2016
http://taxguru.in/income-tax/analysis-tcs-provisions-applicable-wef-01062016.html
refer this for full details
refer this for full details
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