💨 Abstract

The Income Tax department has announced that luxury goods and collectibles priced above Rs 10 lakh, including wrist watches, art, collectibles, yachts, helicopters, luxury handbags, footwear, sportswear, home theater systems, and racing horses, will attract a 1% Tax Collected at Source (TCS) from April 23.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖

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