CBDT Announces 1% TCS on Luxury Goods Above INR 10 Lakh
CBDT Announces 1% TCS on Luxury Goods Above INR 10 Lakh CBDT has notified that a 1% Tax Collected at Source (TCS) will now apply on sale of few prescribed Luxury goods valued above INR 10,00,000/-, with effect from April 22, 2025. This move expands the scope of Section 206C(1F) of the Income-tax Act, 1961, …