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TMI BlogCollection of TCSX X X X Extracts X X X X X X X X Extracts X X X X ..... Collection of TCS X X X X Extracts X X X X X X X X Extracts X X X X ..... consultation free of cost. The query and related information provided are not suitable for discussion forum. The issue must contain full facts, and basic information gathered by the query raiser and then only a discussion can be initiated. Reply By DEV KUMAR KOTHARI: The Reply: I agree with Mrs. Uma Kothari Reply By Surender Gupta: The Reply: I do not agree with the views of CA UMA KOTHARI sinc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e this issue is a general issue and may be relevant for each manufacturer selling scrap arising out of manufacturing process. Section 206C of the Income Tax provides the provision for Tax Deduction at Source. According to the taxable given under sub section (1), TCS is required to be collected on sale of scrap at 1%. The meaning of Scrap for the purpose of TCS is given under clause (B) of Explanat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion below the section 206C as "scrap" means waste and scrap from the manufacture or mechanical working of materials which is definitely not usable as such because of breakage, cutting up, wear and other reasons. Reply By Surender Gupta: The Reply: In addition to above, no TCS is required to be collected where such scrap is to be used in further manufacturing activity by the buyer. Manufacturer sel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ler can take a declaration in prescribed form. X X X X Extracts X X X X X X X X Extracts X X X X
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