New Tax On Luxury! Helicopters, Handbags & High-end Hobbies Now Cost More

Planning to dainty yourself to a Cartier watch, a luxury handbag aliases a high-end location theatre system? You mightiness want to facet successful a caller cost. From 22nd April 2025, nan Central Board of Direct Taxes (CBDT) has implemented a 1% Tax Collected astatine Source (TCS) connected luxury equipment priced supra ₹10 lakh — portion of nan long-awaited Budget 2024 connection yet taking effect. In this explainer, Sakshi Batra of Business Today breaks down what qualifies arsenic a "luxury good", really this taxation works, and why it matters to some buyers and nan taxman. From Rolexes to yachts, if your adjacent indulgence screams opulence, nan authorities wants its trim — and if you're not furnishing your PAN, beryllium prepared for a steep 20% TCS instead. Watch now to understand really this caller norm could effect your luxe lifestyle choices.