https://www.taxtmi.com/news?id=41748 A 1% Tax Collected at Source has been notified, effective April 22, 2025, on sale of specified luxury goods where the selling price exceeds Rs 10 lakh. The obligation to collect TCS lies with the seller for identified items including wrist watches, art objects, collectibles, yachts, helicopters, luxury handbags, sunglasses, footwear, high-end sportswear and equipment, home theatre systems, and horses for racing or polo. The measure aims to enhance monitoring of high-value discretionary expenditure and strengthen the audit trail in the luxury segment. en-us Wed, 23 Apr 2025 13:16:03 +0530 Wed, 23 Apr 2025 13:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=41748 A 1% Tax Collected at Source has been notified, effective April 22, 2025, on sale of specified luxury goods where the selling price exceeds Rs 10 lakh. The obligation to collect TCS lies with the seller for identified items including wrist watches, art objects, collectibles, yachts, helicopters, luxury handbags, sunglasses, footwear, high-end sportswear and equipment, home theatre systems, and horses for racing or polo. The measure aims to enhance monitoring of high-value discretionary expenditure and strengthen the audit trail in the luxury segment. News - Wed, 23 Apr 2025 13:16:03 +0530 https://www.taxtmi.com/news?id=41748