The Central Board of Direct Taxes (CBDT) has notified 1% Tax Collected At Source (TCS) on luxury goods purchases over Rs. 10 lakh effective from April 22, 2025.

The Board has notified Income Tax (Eleventh Amendment) Rules, 2025 to further amend Income Tax Rules, 1962.

Any seller receiving over Rs. 10 lakh for the following goods must collect 1% TCS from the buyer at the time of payment.  

List of goods: 

1. Any wrist watch  
2. Any art piece such as antiques painting, sculpture 
3. Any collectibles such as coin, stamp  
4. Any yacht, rowing boat, canoe, helicopter 
5. Any pair of sunglasses 
6. Any bag such as handbag, purse  
7. Any pair of shoes  
8. Any sportswear and equipment such as golf kit, ski-wear  
9. Any home theatre system  
10. Any horse for horse racing in race clubs and horse for polo

Notification Details

Notification No. 35/2025

Date: 22/04/2025

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