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Section 206C

Latest Articles


Budget 2025: Excluding Court Stay in Section 206C Time Limit Calculation

Income Tax : Amendments to Section 206C exclude court stays from time limit calculations for default orders. Effective April 1, 2025....

February 3, 2025 519 Views 0 comment Print

Exemption from Prosecution for Delayed TCS Payment under Budget 2025

Income Tax : Proposed changes to Section 276BB offer exemption from prosecution for delayed TCS payment if made before the filing deadline, eff...

February 3, 2025 375 Views 0 comment Print

Budget 2025: Removal of Higher TDS/TCS for Non-Filers from April 2025

Income Tax : The Finance Bill 2025 proposes removing Sections 206AB & 206CCA, eliminating higher TDS/TCS rates for non-filers, reducing complia...

February 3, 2025 4764 Views 0 comment Print

Budget 2025:TCS on Sale of Specified Goods to be Omitted from April 2025

Income Tax : TCS on sales exceeding ₹50 lakh under Section 206C(1H) will be removed from April 1, 2025, reducing compliance burden for seller...

February 3, 2025 15306 Views 0 comment Print

Budget 2025: Definition of Forest Produce Rationalized – Section 206C

Income Tax : The Finance Bill 2025 amends Section 206C, defining "forest produce" and revising TCS rates. Timber and forest produce under lease...

February 3, 2025 570 Views 0 comment Print


Latest News


Budget 2024: Extended Lower TDS Deduction/ TCS Collection Scope

Income Tax : Budget 2024 extends the scope for lower deduction/collection certificates under Sections 197 and 206C, effective from October 2024...

July 26, 2024 3522 Views 0 comment Print

Interest Rate for Late TCS Payments Increased to 1.5%

Income Tax : Finance Bill 2024 increases interest on late TCS payments to 1.5% from April 2025, aligning with TDS rates and improving tax compl...

July 25, 2024 3813 Views 0 comment Print

TCS & TDS on Buying and Selling of Bullion & Jewellery

Income Tax : Clarification on Applicability of TCS And TDS on Buying and Selling of Bullion & Jewellery In view of Circular No. 13 of 2021, ...

July 8, 2021 114741 Views 1 comment Print


Latest Judiciary


Section 234E Late Fee for TDS Delays Applies Post-June 1, 2015: Kerala HC

Income Tax : Kerala High Court rules Section 234E late fee for TDS statement delays applicable only from June 1, 2015, quashes earlier demands....

May 5, 2025 378 Views 0 comment Print

TCS credit allowable to parent in whose hands income of minor is clubbed: ITAT Pune

Income Tax : ITAT Pune held that since income of minor child is clubbed in the hands of assessee, TCS collected on the same needs to be credite...

March 26, 2025 150 Views 0 comment Print

Delayed TCS Form 27C Submissions Valid Due to No Strict Timeline

Income Tax : ITAT Ahmedabad partially upholds CIT(A)'s decision on TCS collection under Section 206C. Analysis focuses on Form 27C delays, proc...

November 8, 2024 1242 Views 0 comment Print

TCS not applicable on liquor vendors who bought vending rights on auction: Supreme Court

Income Tax : Supreme Court held that Section 206C of the Income Tax Act is not applicable in respect of Mysore Sales and that the liquor vendor...

July 26, 2024 579 Views 0 comment Print

ITAT Upholds Section 56(2) Addition for Property Purchase Without Consideration

Income Tax : Read the detailed analysis of Indira Ramaiah Vs ITO case by ITAT Bangalore. ITAT upheld the addition of gift for undisclosed inves...

July 18, 2024 711 Views 0 comment Print


Latest Notifications


CBDT notifies 10 new items on which TCS needs to be collected

Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ケ10 lakh, effectiv...

April 22, 2025 18972 Views 1 comment Print

Income Tax Notification No. 115/2024: No TCS on RBI Payments

Income Tax : CBDT exempts tax collection at source (TCS) on payments received from the Reserve Bank of India under Section 206C(1F) of the Inco...

October 16, 2024 1380 Views 0 comment Print

Domestic tour operator not required to collect TCS on sale of overseas tour package to non-resident individuals visiting India

Income Tax : Provisions of TCS shall not apply to a buyer being an individual who is not a resident in India and who is visiting India. Hence, ...

March 30, 2022 3708 Views 0 comment Print

Guideline on TDS/TCS under Section 194O, section 194Q & Section 206C

Income Tax : Guidelines under sub-section (4) of section 194-0, sub-section (3) of section 194Q and sub­section (1-I) of section 206C of the I...

November 25, 2021 24969 Views 0 comment Print

No section 206C(1H) TCS on transfer of goods by Air India to holding company

Income Tax : Central Government hereby specifies that, Air India Limited (PAN: AACCN6194P) shall not be considered as ‘seller’ for the purp...

September 10, 2021 1113 Views 0 comment Print


Latest Posts in Section 206C

Section 234E Late Fee for TDS Delays Applies Post-June 1, 2015: Kerala HC

May 5, 2025 378 Views 0 comment Print

Kerala High Court rules Section 234E late fee for TDS statement delays applicable only from June 1, 2015, quashes earlier demands.

CBDT notifies 10 new items on which TCS needs to be collected

April 22, 2025 18972 Views 1 comment Print

The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ケ10 lakh, effective upon official publication.

TCS credit allowable to parent in whose hands income of minor is clubbed: ITAT Pune

March 26, 2025 150 Views 0 comment Print

ITAT Pune held that since income of minor child is clubbed in the hands of assessee, TCS collected on the same needs to be credited in the hands of assessee. Accordingly, assessee cannot be deprived from the credit of TCS. Thus, appeal allowed.

Budget 2025: Excluding Court Stay in Section 206C Time Limit Calculation

February 3, 2025 519 Views 0 comment Print

Amendments to Section 206C exclude court stays from time limit calculations for default orders. Effective April 1, 2025.

Exemption from Prosecution for Delayed TCS Payment under Budget 2025

February 3, 2025 375 Views 0 comment Print

Proposed changes to Section 276BB offer exemption from prosecution for delayed TCS payment if made before the filing deadline, effective from April 2025.

Budget 2025: Removal of Higher TDS/TCS for Non-Filers from April 2025

February 3, 2025 4764 Views 0 comment Print

The Finance Bill 2025 proposes removing Sections 206AB & 206CCA, eliminating higher TDS/TCS rates for non-filers, reducing compliance burden from April 2025.

Budget 2025:TCS on Sale of Specified Goods to be Omitted from April 2025

February 3, 2025 15306 Views 0 comment Print

TCS on sales exceeding ₹50 lakh under Section 206C(1H) will be removed from April 1, 2025, reducing compliance burden for sellers. Learn more about the changes.

Budget 2025: Definition of Forest Produce Rationalized – Section 206C

February 3, 2025 570 Views 0 comment Print

The Finance Bill 2025 amends Section 206C, defining “forest produce” and revising TCS rates. Timber and forest produce under lease will be taxed at 2% from April 1, 2025.

FAQs on Changes in TDS and TCS Rates and Thresholds vide Budget 2025

February 2, 2025 9363 Views 1 comment Print

Finance Bill 2025 proposes changes in TDS/TCS rates and thresholds, effective from April 1, 2025, to improve tax compliance and ease of doing business.

Guide to TCS under Section 206C(1H) and TDS under Section 194Q

December 5, 2024 1392 Views 0 comment Print

Understand provisions of TCS under Section 206C(1H) and TDS under Section 194Q, including applicability, rates, exclusions and compliance requirements for businesses.

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