{"id":107187,"date":"2025-04-24T03:08:01","date_gmt":"2025-04-23T21:38:01","guid":{"rendered":"https:\/\/vanillanews.com\/index.php\/2025\/04\/24\/new-1-tcs-on-luxury-goods-over-rs-10-lakh-to-aid-tax-tracking-finance-act-2024\/"},"modified":"2025-04-24T03:08:01","modified_gmt":"2025-04-23T21:38:01","slug":"new-1-tcs-on-luxury-goods-over-rs-10-lakh-to-aid-tax-tracking-finance-act-2024","status":"publish","type":"post","link":"https:\/\/vanillanews.com\/index.php\/2025\/04\/24\/new-1-tcs-on-luxury-goods-over-rs-10-lakh-to-aid-tax-tracking-finance-act-2024\/","title":{"rendered":"New 1% TCS on Luxury Goods Over Rs 10 Lakh to Aid Tax Tracking: Finance Act 2024."},"content":{"rendered":"<p>Luxury goods priced over Rs 10 lakh, such as handbags, watches, art, and yachts, will now face a 1% Tax Collected at Source (TCS) starting April 22. The move, outlined in the Finance Act 2024, is designed to bolster the income tax department&#8217;s monitoring of high-value transactions by necessitating PAN details for such purchases.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Luxury goods priced over Rs 10 lakh, such as handbags, watches, art, and yachts, will now face a 1% Tax Collected at Source (TCS) starting April 22. The move, outlined in the Finance Act 2024, is designed to bolster the income tax department&#8217;s monitoring of high-value transactions by necessitating PAN details for such purchases.<\/p>\n","protected":false},"author":0,"featured_media":107188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-2.jpg",2016,1134,false],"thumbnail":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-2-150x150.jpg",150,150,true],"medium":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-2-300x169.jpg",300,169,true],"medium_large":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-2-768x432.jpg",640,360,true],"large":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-2-1024x576.jpg",640,360,true],"1536x1536":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-2-1536x864.jpg",1536,864,true],"2048x2048":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-2.jpg",2016,1134,false]},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"<a href=\"https:\/\/vanillanews.com\/index.php\/category\/just-in\/\" rel=\"category tag\">JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/107187"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=107187"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/107187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media\/107188"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=107187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=107187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=107187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}