{"id":107443,"date":"2025-04-24T06:18:03","date_gmt":"2025-04-24T00:48:03","guid":{"rendered":"https:\/\/vanillanews.com\/index.php\/2025\/04\/24\/new-1-tcs-on-luxury-items-over-rs-10-lakh-aims-to-track-high-value-purchases-effectively\/"},"modified":"2025-04-24T06:18:03","modified_gmt":"2025-04-24T00:48:03","slug":"new-1-tcs-on-luxury-items-over-rs-10-lakh-aims-to-track-high-value-purchases-effectively","status":"publish","type":"post","link":"https:\/\/vanillanews.com\/index.php\/2025\/04\/24\/new-1-tcs-on-luxury-items-over-rs-10-lakh-aims-to-track-high-value-purchases-effectively\/","title":{"rendered":"&#8220;New 1% TCS on luxury items over Rs 10 lakh aims to track high-value purchases effectively&#8221;"},"content":{"rendered":"<p>Luxury goods valued at over Rs 10 lakh, such as handbags, watches, art, and yachts, will now be subjected to a 1% Tax Collected at Source (TCS) starting from April 22. This new regulation, outlined in the Finance Act 2024, is designed to bolster the income tax department&#8217;s monitoring of high-worth transactions by necessitating PAN details.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Luxury goods valued at over Rs 10 lakh, such as handbags, watches, art, and yachts, will now be subjected to a 1% Tax Collected at Source (TCS) starting from April 22. This new regulation, outlined in the Finance Act 2024, is designed to bolster the income tax department&#8217;s monitoring of high-worth transactions by necessitating PAN [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":107444,"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-2518450-7.jpg",2016,1134,false],"thumbnail":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-7-150x150.jpg",150,150,true],"medium":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-7-300x169.jpg",300,169,true],"medium_large":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-7-768x432.jpg",640,360,true],"large":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-7-1024x576.jpg",640,360,true],"1536x1536":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-7-1536x864.jpg",1536,864,true],"2048x2048":["https:\/\/vanillanews.com\/wp-content\/uploads\/2025\/04\/msid-120556436imgsize-2518450-7.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\/107443"}],"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=107443"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/107443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media\/107444"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=107443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=107443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=107443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}