Scrap definition confines TDS/TCS treatment to manufacturing or mechanical waste definitively unusable because of breakage, cutting, wear, or similar causes. Scrap for TDS/TCS purposes means waste and scrap arising from the manufacture or mechanical working of materials that is definitively unusable as such due ... Summary
Scrap definition confines TDS/TCS treatment to manufacturing or mechanical waste definitively unusable because of breakage, cutting, wear, or similar causes.
Scrap for TDS/TCS purposes means waste and scrap arising from the manufacture or mechanical working of materials that is definitively unusable as such due to breakage, cutting up, wear, or similar reasons. This meaning under the Income-tax Act, 2025 corresponds to the definition in the Explanation to section 206C of the Income-tax Act, 1961.
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