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of <h1>Clause 394 of Income Tax Bill 2025: Tax Collection at Source on Liquor, Timber, Vehicles, and More. Exemptions Apply.</h1> Clause 394 of the Income Tax Bill, 2025 mandates tax collection at source by specified persons on certain receipts at designated rates. It covers transactions like the sale of alcoholic liquor, tendu leaves, timber, scrap, minerals, motor vehicles, overseas tour packages, and remittances under the Liberalised Remittance Scheme. Exemptions apply if the buyer, a resident in India, declares goods for manufacturing or power generation. Additionally, no tax collection is required if the buyer is liable to deduct tax at source under other provisions. Definitions align with existing state laws or the Indian Forest Act, 1927.
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