SARP IDEAS

TCS @ 1% applicable u/s 206C(1F) wef 22 Apr, 2025 on purchase of any of these items of value above Rs. 10 lacs, irrespective of mode of payment. Wrist watch, art piece such as antiques, painting, sculpture, collectibles such as coin, stamp, yacht, rowing boat, canoe, helicopter, pair of sunglasses, bag such as handbag, purse, pair of shoes, sportswear and equipment such as golf kit, ski-wear, home theatre system, horse for horse racing in race clubs and horse for polo. This section already applies to purchase of cars. CBDT Notification of 22.4.25.

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