Purchase of used car of rs 2200000
sajeer k (accounts officer) (177 Points)
03 August 2023
is tds applicable when buying a used car from an individual value of 2200000 ?
7 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 03 August 2023
Yes TCS u/s 206C(1F) for motor cars is applicable @ 1% if value of car exceeds 10 lakhs rupees.
sajeer k
(accounts officer)
(177 Points)
Replied 03 August 2023
It is purchased from an individual to a partnership firm. I think TDS is applicable for the firm, it is correct?
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 03 August 2023
If individual is not a retailer then 194Q will attract
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