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Income Tax - Highlights / Catch Notes

Home Highlights June 2016 Year 2016 This

Tax collection at source (TCS) @1% is on sale of any motor ...

Income Tax

June 8, 2016

Tax collection at source (TCS) @1% is on sale of any motor vehicle of the value exceeding ten lakh rupees or @1% if sale consideration received in cash exceeds 2 lakh rupees - CBDT clarifies - even if both the conditions are existing, TCS shall be 1% only

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