TaxTMI 
TaxTMI 
TCS on scrap
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....CS on scrap<br> Query (Issue) Started By: - venkat eswaran Dated:- 30-3-2017 Last Reply Date:- 1-4-2017 Income Tax<br>Got 2 Replies<br>Income Tax<br>Dear All, We used to make scrape invoice appr for ....
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....1 lakh in a year in various dates. Whether we have to add TCS on this? If TCS added after that we have to file TCS return like TDS qutrly return anything ? Any exemption limit for TCS transactions? ....
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.... Pl clarify thanks in advance Venkat Reply By Ganeshan Kalyani: The Reply: Please refer Section : Section 206C : Profits and gains from the business of trading in alcoholic liquor, forest produce....
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...., scrap, etc. 1% TCS is required to be collected from the buyer by the seller of scrap. Exemption is available if the buyer submits declaration that the scrap bought is for the purpose of manufactu....
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....ring and not for trading. Please refer the Section. Thanks Reply By MARIAPPAN GOVINDARAJAN: The Reply: I endorse the views of Shri Ganeshan<br> Discussion Forum - Knowledge Sharing ....