Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
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CBDT Notification No. 36/2025 expands tax collection at source (TCS) provisions under section 206C(1F) of Income Tax Act, 1961, introducing TCS on luxury goods exceeding ten lakh rupees. The notification identifies ten categories of luxury items including wrist watches, art pieces, collectibles, watercraft, sunglasses, bags, shoes, sportswear, home theatre systems, and racing/polo horses. TCS will be levied on sale of individual items meeting the specified value threshold, effective from 22.04.2025. The amendment broadens the existing motor vehicle TCS provision to encompass a wider range of high-value luxury goods, aiming to capture additional tax revenue from premium consumer transactions.
CBDT Notification No. 36/2025 expands tax collection at source (TCS) provisions under section 206C(1F) of Income Tax Act, 1961, introducing TCS on luxury goods exceeding ten lakh rupees. The notification identifies ten categories of luxury items including wrist watches, art pieces, collectibles, watercraft, sunglasses, bags, shoes, sportswear, home theatre systems, and racing/polo horses. TCS will be levied on sale of individual items meeting the specified value threshold, effective from 22.04.2025. The amendment broadens the existing motor vehicle TCS provision to encompass a wider range of high-value luxury goods, aiming to capture additional tax revenue from premium consumer transactions.
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