Form 143:
Form 143 is used to file TCS (Tax Collected at Source) returns under Section 394 of the Income Tax Act 2025. It is filed quarterly by the person or entity that collects the tax.
New Section of Form 143:-
| New Section | Nature of Payment |
|---|---|
| 394(1)1 | Alcoholic liquor for human consumption |
| 394(1)2 | Sale of Tendu leaves |
| 394(1)3 | Timber obtained under a forest lease |
| 394(1)3 | Timber obtained under any mode other than a forest lease |
| 394(1)3 | Any other forest product, excluding timber and tendu leaves |
| 394(1)4 | Sale of scrap |
| 394(1)5 | Sale of certain minerals |
| 394(1)6D(a) | Sale of a motor vehicle |
| 394(1)6D(b) | Collection at source on the sale of a wristwatch |
| 394(1)6D(b) | Collection at source on the sale of art pieces such as antiques, paintings, and sculptures |
| 394(1)6D(b) | Collection at source on the sale of collectibles such as coins and stamps |
| 394(1)6D(b) | Collection at source on the sale of yachts, rowing boats, canoes, and helicopters |
| 394(1)6D(b) | Collection at source on the sale of sunglasses |
| 394(1)6D(b) | Collection at source on the sale of bags such as handbags and purses |
| 394(1)6D(b) | Collection at source on the sale of shoes |
| 394(1)6D(b) | Collection at source on the sale of sportswear and equipment such as golf kits and ski-wear |
| 394(1)6D(b) | Collection at source on the sale of home theatre systems |
| 394(1)6D(b) | Collection at source on the sale of horses for horse racing in race clubs and horses for polo |
| 394(1)7D(a) | Remittance under LRS for an educational loan taken from a financial institution |
| 394(1)7D(b) | Remittance under LRS for the purchase of an overseas tour package or for an educational loan |
| 394(1)8D(a) | Remittance under LRS for the purchase of an overseas tour program package |
| 394(1)8D(b) | Remittance under LRS for the purchase of an overseas tour program package |
| 394(1)9 | Parking lot for the purpose of business, excluding mining and quarrying of mineral oil |
| 394(1)9 | Toll plaza for the purpose of business, excluding mining and quarrying of mineral oil |
| 394(1)9 | Mining and quarrying for the purpose of business, excluding mining and quarrying of mineral oil |
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