Article Compiles TCS Rates for F.Y. 2016-17 to 2018-19 under Section 206C of Income Tax Act, 1961 stating Nature of Payment, Threshold Amount, TCS Rate as applicable to Individual / HUF and others.

It Provides TCS Rate on Scrap, TCS Rate on Tendu Leaves, TCS Rate on Timber obtained under a forest lease or other mode, TCS Rate on Any other forest produce not being a timber or tendu leave, TCS Rate on Alcoholic Liquor for human  consumption, TCS Rate on Parking Lot, toll plaza, mining and quarrying, TCS Rate on Minerals, being coal or lignite or iron ore (applicable from July 1, 2012), TCS Rate on Bullion if consideration (excluding any coin / article weighting 10 grams or less) exceeds Rs. 2 Lakhs, TCS Rate on sale in cash of any goods (other than bullion/jewellery), TCS Rate on providing of any services (other than Ch-XVII-B) and TCS Rate on Motor Vehicle.

TCS Rates for Financial year 2016-17 to 2018-19

Section Nature of Payment Threshold Amount TCS Rates (%)
F. Y. 2016-17 to 2017-18 F. Y. 2018-19
Individual / HUF Other Individual / HUF Other
206C Scrap 1 1 1 1
206C Tendu Leaves 5 5 5 5
206C Timber obtained under a forest lease or other mode 2.5 2.5 2.5 2.5
206C Any other forest produce not being a timber or tendu leave 2.5 2.5 2.5 2.5
206C Alcoholic Liquor for human consumption 1 1 1 1
206C Parking Lot, toll plaza, mining and quarrying 2 2 2 2
206C Minerals, being coal or lignite or iron ore (applicable from July 1, 2012) 1 1 1 1
206C Bullion if consideration (excluding any coin / article weighting 10 grams or less) exceeds Rs. 2 Lakhs 1 1 1 1
206C TCS on sale in cash of any goods (other than bullion/jewellery) 200000 1 1
206C TCS on providing of any services (other than Ch-XVII-B) 200000 1 1
206C TCS on Motor Vehicle 1000000 1 1

Note: if the purchaser or licensee is non – resident or foreign company the above rate shall be increased health and education cess and surcharge.

 (Republished With Amendments)

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