Tds @ 1% on purchase of luxury cars exceeding Rs.10lacs

Others 3172 views 2 replies

Respected Sir/Madam,

With respect to the Budget 2016-17, there is a new provision of TDS on @ 1% Purchase of Luxury Cars exceeding Rs.10Lacs.

1)The liability to deduct the TDS will be on whom? a) Dealers (who purchase cars from Manufucturers) or b) The ultimate customers.

2) This new provision is effective from which date? Please advise.

Thanks and regards,

Pranay Parmar

Replies (2)

1. It is the responsibility of the Dealers to deduct 1% TCS under the new ammendment ( Sec 206C )

2. this new ammendment will be effective from 01.06.2016

 

Thank you Sir for sharing a very useful information.

Further, is there any clearification on the value of Motor Car, i.e.

1) whether TCS is applicable of ex-showroom price ?

or 

2) whether TCS is applicable on on road price of the vehicle ( i.e. on a sum of = ex-showrrom price + Insurance + Registration + accessories ) ?

Please advise.

Thanks and Regards,

Pranay Parmar


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details