Handbags, wrist watches, footwear and sportswear, priced above Rs 10 lakh will now attract 1 per cent Tax Collected at Source ...

The official list includes an array of items such as yachts, helicopters, home theatre systems, sunglasses, luxury fashion ...

The government’s updated TCS rule mandates 1% tax on luxury goods like watches, art, yachts, and helicopters priced over Rs ...

WhatsApp founder Jan Koum, already the owner of two superyachts, Mogambo and Moonrise, as well as two support vessels, Power ...

Starting April 22, 2025, luxury goods priced above Rs 10 lakh will be subject to a 1% Tax Collected at Source (TCS). This ...

Luxury goods priced above ₹10 lakh now subject to 1% TCS, enhancing tax monitoring and financial transparency.

Handbags, wrist watches, footwear and sportswear, priced above Rs 10 lakh will now attract 1 per cent Tax Collected at Source (TCS), as per a notification issued by the Income Tax department. TCS at 1 ...

The Income Tax Department has issued a notification stating that 1% TCS will be imposed on sale of certain luxury goods ...

Not a revenue generation tool; move expected to help the tax man widen the tax base by tracking luxury spending ...

Luxury goods like handbags, wrist watches, footwear and sportswear, priced above Rs 10 lakh will now attract a 1 per cent Tax ...

The obligation to collect TCS shall be on the seller in respect of the notified goods.

The TCS provision for luxury goods was introduced via Finance Act, 2024, as part of the Budget presented in July 2024 ...