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Tax Rates for Tax Collection at Source ( TCS) U/s 206C during the A.Y. 2019-20

During the Financial Year 2018-2019 ( Assessment Year 2019-20), Tax has to be collected at source (TCS) in the following cases Under section 206C..

Nature of Goods Percentage Rate of Tax Collection at Source
(TCS) applicaible

Category A (sale of the following)

 
A-1. Alcoholic Liquor for Human Consumption
(other than Indian Made Foreign Liquor)
1%
A-2. Indian made Foreign Liquor 1%
A-3. Tendu Leaves 5%
A-4. Timber obtained under a Forest Lease 2.50%
A-5. . Timber obtained by any mode other than under a Forest Lease 2.50%
A-6. Any other Forest Product not being Timber or Tendu Leaves 2.50%
A-7. Scrap 1%
A-8. Minerals, being Coal or Lignite or Iron Ore 1%

Category-B (Grant of Lease/ License of the following)-

 
B-1. Parking Lot, Toll Plaza, Mining and Quarrying
(other than Mining and Quarrying of Mineral Oil, Petroleum and Natural Gas)
2%

Category-C

[ TCS Not Applicable with effect from April 1, 2017. ]

 

Category D (sale of the following whether payment is received by cheque or by any other mode)

 
D-1. Motor vehicle of the value exceeding Rs. 10 lakh 1%

 

Note : (In some cases, these Rates are subject to Surcharge and Health and Education Cess)

  1. If the purchaser or the licensee is a foreign company and the amount subject to tax collection (TCS) is more than Rs. 1 crore, but not more than Rs. 10 crore, surcharge is 2% of TCS during 2018-19

  2. ( it is 5% of TCS if such amount is more than Rs. 10 crore).

  3. If purchaser/licensee is non-resident firm/co-operative society, surcharge @ 12% is applicable only if amount subject to TCS is more than Rs. 1 crore.

  4. If purchaser / licensee is Non-Resident individual / HUF / AOP / BOI, surcharge at the rate of 15% is applicable if amount subject to TCS is more than Rs. 1 crore

  5. ( Surcharge is 10% if purchaser / licensee is non-resident individual / HUF / AOP / BOI and the amount subject to TCS is more than Rs. 50 lakh but not more than Rs. 1 crore).

  6. If purchaser or licensee is a Non-Resident or a Foreign Company, Health and Education Cess of 4% (of TCS+SC) is applicable.

  7. In no other case, Surcharge and Health and Education Cess shall be added.

  1. Tax shall be collected under section 206C at the rates given in the table (above). If PAN of collectee is not intimated to the collector, tax will be collected by virtue of section 206CC either at twice the rate specified in the table (above) or at the rate of 5%, whichever is higher.

  2. However, the provisions of section 206CC shall not apply in the case of a Non-Resident Collectee who does not have any Permanent Establishment in India.

 
CONTENT- Tax Collection at Source (TCS) [Section 206C]

Related Topics .... Tax Collected at Source (TCS)

 



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