Govt is wrong on TCS
TDS is deducted from salary or FD interest- which is ur earnings & you anyway have to pay tax on your earnings.
TCS- this is deducted on expenses. You are not supposed to pay tax on expenses.
Nobody in the world does this kind of 20% TCS!
If govt wants to track- govt can put 1% TCS.
You can buy a car for 2 crores in India- you pay only 1% TCS.
Real estate transactions also have 1% TCS only.
Why put massive 20% here vs 1% in real estate?
Real estate is biggest cash bin in India. more