New TCS on luxury goods NEW TAX ITEMS LIST FOR INCOME TAX TCS ! INCOME TAX NEW CHANGE !

NEW LIST OF TAX ITEMS FOR INCOME TAX TCS COLLECTION INCOME TAX NEW CHANGE 27EQ NEW CHANGE
FORM 27EQ AMNDED FOR TCS ON SAELE OF MOTOR VEHICLE AND OTHER ITEMS
Collection at source on sale of wrist watch
Collection at source on sale of art piece such as antiques, painting, sculpture
Collection at source on sale of collectibles such as coin, stamp
Collection at source on sale of yacht, rowing boat, canoe, helicopter
Collection at source on sale of pair of sunglasses
Collection at source on sale of bag such as handbag, purse
Collection at source on sale of pair of shoes
Collection at source on sale of sportswear and equipment such as golf kit, ski-wear
Collection at source on sale of home theatre system
Collection at source on sale of horse for horse racing in race clubs and horse for polo

How to select your preferred language on the channel [00:00]
Overview of changes in income tax and the reporting of taxable items [00:10]
Amendment to the Income Tax Act and government collection of information on purchased items [01:00]
Explanation of Section 206C of the Income Tax Act and related amendments [01:47]
Government notification regarding goods subject to the new provisions [02:29]
List of items now subject to TCS (Tax Collected at Source) [02:53]
Implications for taxpayers and the importance of documentation [04:15]
Where to find more information about income tax updates [05:04]

New TCS list in Income Tax for sale above Rs 10 Lakh Section 206(C)(1F)(ii) https://www.taxheal.com/new-tcs-list-in-income-tax-for-sale-above-rs-10-lakh-section-206c1fii.html

Section 206(C)(1F)(ii) of income tax act

#TCs, #INCOMETAX #WATCH #HORSE #SUNGLASS #LUXURY ITEMS

#taxCollected at Source
Section 206C (1F)
Tax Collected at Source (TCS)
Goods exceeding ten lakh rupees
Wrist watch
Art piece (antiques, painting, sculpture)
Collectibles (coin, stamp)
Yacht, rowing boat, canoe, helicopter
Sunglasses
Bag (handbag, purse)
Shoes
Sportswear and equipment (golf kit, ski-wear)
Home theatre system
Horse (racing, polo)
Central Government notification
Income-tax Act, 1961

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DISCLAIMER ***
This video is merely a general guide meant for learning purposes only. All the instructions, references, content or documents are for educational purposes only and do not constitute a legal advice. We do not accept any liabilities whatsoever for any losses caused directly or indirectly by the use/reliance of any information contained in this video or for any conclusion of the information. Prior to acting upon this video, you're suggested to seek the advice of your financial, legal, tax or professional advisors as to the risks involved may be obtained and necessary due diligence, etc may be done at your end.

Видео New TCS on luxury goods NEW TAX ITEMS LIST FOR INCOME TAX TCS ! INCOME TAX NEW CHANGE ! канала CA SATBIR SINGH