The CBDT vide Notification No. 36/2025 dated April 22, 2025, mandates the collection of tax at source for goods valued over ten lakh rupees, including wristwatches, art pieces, collectibles, yachts, sunglasses, bags, shoes, sportswear, home theatre systems, and horses for racing or polo. The notification is effective from the date of its publication in the Official Gazette.
In exercise of the powers conferred by clause (ii) of sub-section (1F) of section 206C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following goods of the value exceeding ten lakh rupees for collection of tax at source as specified therein –
| Sl. No. | Nature of goods |
| (1) | (2) |
| 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 |
This notification shall come into force on the date of its publication in the Official Gazette.
The Notification can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/04/CBDT-NNo.-36_2025.pdf
