https://www.taxtmi.com/article/detailed?id=6855 Section 206C requires sellers to collect TCS on cash consideration for bullion, jewellery, specified goods and services when cash receipts exceed the statutory threshold, and mandates separate collection for high-value motor vehicle sales irrespective of payment mode. Collection is not required where tax has been deducted by the payer or where prescribed buyer classes are exempt. Sellers (including individuals/HUFs above turnover audit limits) must remit collected tax within prescribed time; failure to collect or remit results in deemed assessee status, interest liability, and a charge on assets. Buyers may seek a lower collection rate certificate from the assessing officer. en-us Tue, 14 Jun 2016 13:17:15 +0530 Tue, 14 Jun 2016 13:18:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6855 Section 206C requires sellers to collect TCS on cash consideration for bullion, jewellery, specified goods and services when cash receipts exceed the statutory threshold, and mandates separate collection for high-value motor vehicle sales irrespective of payment mode. Collection is not required where tax has been deducted by the payer or where prescribed buyer classes are exempt. Sellers (including individuals/HUFs above turnover audit limits) must remit collected tax within prescribed time; failure to collect or remit results in deemed assessee status, interest liability, and a charge on assets. Buyers may seek a lower collection rate certificate from the assessing officer. Articles Income Tax Tue, 14 Jun 2016 13:17:15 +0530 https://www.taxtmi.com/article/detailed?id=6855