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  • TCS Rate Chart Under Income Tax For F.Y. 2

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    The document provides TCS rates under Section 206C of the Income Tax Act for the financial years 2016-17 to 2018-19, listing the nature of payments, threshold amounts, and applicable TCS rates for individuals/HUFs and others for items such as scrap, tendu leaves, timber, alcoholic liquor, bullion, goods, services, and motor vehicles. Rates vary from 1% to 5% depending on the item, with some rates increasing to include health and education cess and surcharge for non-residents and foreign companies. Threshold amounts are provided for certain items where TCS is only applicable if the consideration amount exceeds the threshold.

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    TCS Rate Chart under Income Tax for F.Y. 2

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    The document provides TCS rates under Section 206C of the Income Tax Act for the financial years 2016-17 to 2018-19, listing the nature of payments, threshold amounts, and applicable TCS rates for individuals/HUFs and others for items such as scrap, tendu leaves, timber, alcoholic liquor, bullion, goods, services, and motor vehicles. Rates vary from 1% to 5% depending on the item, with some rates increasing to include health and education cess and surcharge for non-residents and foreign companies. Threshold amounts are provided for certain items where TCS is only applicable if the consideration amount exceeds the threshold.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    6 views3 pages

    TCS Rate Chart Under Income Tax For F.Y. 2

    Uploaded by

    Unknown Man
    The document provides TCS rates under Section 206C of the Income Tax Act for the financial years 2016-17 to 2018-19, listing the nature of payments, threshold amounts, and applicable TCS rates for individuals/HUFs and others for items such as scrap, tendu leaves, timber, alcoholic liquor, bullion, goods, services, and motor vehicles. Rates vary from 1% to 5% depending on the item, with some rates increasing to include health and education cess and surcharge for non-residents and foreign companies. Threshold amounts are provided for certain items where TCS is only applicable if the consideration amount exceeds the threshold.

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    © All Rights Reserved
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    of 3

    TCS RATE CHART UNDER INCOME TAX FOR F.Y.

    2016-17 TO
    2018-19
    AUTHOR :TG TEAM

    https://taxguru.in/income-tax/tcs-rate-chart-income-tax.html

    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


    TCS Rates (%)
    F. Y. 2018-19

    F. Y. 2016-17 to 2017-
    18
    Thres-hold
    Section Nature of Payment
    Amount
    Othe

    Individual / Individual /
    Other
    HUF HUF

    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
    Any other forest produce not being a timber or
    206C – 2.5 2.5 2.5 2.5
    tendu leave
    206C Alcoholic Liquor for human consumption – 1 1 1 1
    206C Parking Lot, toll plaza, mining and quarrying – 2 2 2 2
    Minerals, being coal or lignite or iron ore
    206C – 1 1 1 1
    (applicable from July 1, 2012)
    Bullion if consideration (excluding any coin /
    206C article weighting 10 grams or less) exceeds Rs. 2 – 1 1 1 1
    Lakhs
    1
    TCS on sale in cash of any goods (other than
    206C 200000 – – 1
    bullion/ jewellery)

    TCS on providing of any services (other than Ch-


    206C 200000 – – 1 1
    XVII-B)
    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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