TCS Rate Chart for F.Y. 2020-21 (A.Y: 2021-22)
Section |
Nature of payment |
Applicable from 01/04/2020 to 13/05/2020 |
Applicable from 14/05/2020 to 31/03/2021 |
|
|
TCS Rate (%) |
TCS Rate (%) |
206C |
Scrap |
1 |
0.75 |
206C |
Tendu leaves |
5 |
3.75 |
206C |
Timber obtained under a forest lease or other mode |
2.5 |
1.875 |
206C |
Any other forest produces not being a timber or tendu leaves |
2.5 |
1.875 |
206C |
Alcoholic liquor for human consumption and Indian made foreign liquor |
1 |
1 |
206C |
Parking lot, toll plaza, mining and quarrying (other than mining and
quarrying of mineral oil, petroleum and natural gas) |
2 |
1.5 |
206C |
Minerals, being coal or lignite or iron ore |
1 |
0.75 |
206C |
Sale of motor vehicle of the value exceeding Rs. 10 Lacs |
1 |
0.75 |
206C |
Remittance out of India under the Liberalized Remittance Scheme of
the RBI of the value exceeding 7 Lacs in a financial year (Applicable
from 01.10.2020) – TCS will be charged on excess amount over 7 lacs |
N.A. |
5 |
206C |
Sale of overseas tour programme package (Applicable from
01.10.2020) |
N.A. |
5 |
206C |
Remittance out of India for education under the Liberalized
Remittance Scheme of the RBI of the value exceeding 7 Lacs in a financial
year (Applicable from 01.10.2020) – TCS will be charged on excess
amount over 7 lacs |
N.A. |
0.5 |
206C |
Sale of any goods (other than goods exported out of India or goods
given in the above points) of the value exceeding 50 Lacs (Applicable
from 01.10.2020) – TCS will be charged on excess amount over 50 lacs |
N.A. |
0.075 |
|
Note: In case of non-furnishing of PAN/Aadhaar by collectee, TCS
will be charged at twice of the normal rate applicable or 5% {1% in case of
sale of any goods (given in the last point) of the value exceeding 50 Lacs},
whichever is higher. |
|
|
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