India's Central Board of Direct Taxes (CBDT) has published Notification No. 35/2025 of 22 April 2025 and Notification No. 36/2025 of 22 April 2025 regarding the list of luxury goods subject to 1% tax collection at source (TCS) if the value of the goods exceeds INR 1 million (ten lakh). The list includes:
- any wristwatch;
- any art piece such as antiques, paintings, sculptures;
- any collectibles such as coins, stamps;
- any yacht, rowing boat, canoe, helicopter;
- any pair of sunglasses;
- any bag su…