TCS Rate chart for FY 2020-21

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SectionParticularsTCS Rates (in %) (Upto 13th May, 2020)TCS Rates (in %) (From 14th May, 2020 to 31st March, 2021)
206C(1C)Grant of lease or license of the following:
a) Parking lot2%1.5%
b) Toll Plaza2%1.5%
c) Mining and quarrying (Other than mining and quarrying of mineral oil, petroleum and natural gas)2%1.5%
206C(1F)Sale of the motor vehicle of the value exceeding Rs. 10 lakh whether payment is received by cheque or by any other mode1%0.75%
SectionParticularsTCS Rates (in %) (Upto 13th May, 2020)TCS Rates (in %) (From 14th May, 2020 to 31st March, 2021)
206C(1G)(a)TCS on foreign remittance through  LiberalisedRemittance Scheme (LRS) (This Section is inserted by Finance Act, 2020 which is proposed to be applicable from 01/10/2020) (Please refer Note -1 isko content se remove karna read karne ke baad )0.5%: Where
remittance is a repayment of loan obtained for the
purpose of
pursuing any
education.5% In any other
case.(wef 01.10.2020) (10% for non PAN or Aadhaar cases) (W.e.f. 01/10/2020)
0.5%: Where
remittance is a repayment of loan obtained for the
purpose of
pursuing any
education.5% In any other
case.(wef 01.10.2020) (10% for non PAN or Aadhaar cases) (W.e.f. 01/10/2020)
206C(1G)(b)TCS on selling of overseas tour package (This Section is inserted by Finance Act, 2020 which is proposed to be applicable  from 01/10/2020) (Please refer Note -2 isko content se remove karna read karne ke baad )5% (10% for non PAN or Aadhaar cases) (W.e.f. 01/10/2020)5% (10% for non PAN or Aadhaar cases) (W.e.f. 01/10/2020)
SectionParticularsTCS Rates (in %) (Upto 13th May, 2020)TCS Rates (in %) (From 14th May, 2020 to 31st March, 2021)
206C(1H)TCS on sale of any goods [except goods on which TCS applicable as per Section 206C (1), 206C (1F) and 206C (1G)] (This Section is inserted by Finance Act, 2020 which is proposed to be applicable from 01/10/2020) (Please refer Note -3 isko content se remove karna read karne ke baad)0.10% (1% for non PAN or Aadhaar cases) (W.e.f. 01/10/2020)0.075% (1% for non PAN or Aadhaar cases) (W.e.f. 01/10/2020)

Note -1. Section 206C(1G)(a) – TCS on foreign remittance through Liberalised Remittance Scheme (LRS)

An authorised dealer receiving an amount or an aggregate of amounts of seven lakh rupees or more in a financial year for remittance out of India under the LRS of RBI, shall be liable to collect TCS, if he receives sum in excess of said amount from a buyer being a person remitting such amount out of India, at the rate of 5%.

In non-PAN/Aadhaar cases the rate shall be 10%.

This section will not be applicable in following cases:

If the buyer is liable to deduct TDS under any other provisions and has deducted

If a buyer is CG, SG, an embassy, a high commission, a legation, a commission, a consulate, the trade representation of a foreign state, a local authority or any other person as notified by CG

Note-2. Section 206C(1G)(b) – TCS on selling of overseas tour package

A seller of an overseas tour program package who receives any amount from any buyer, being a person who purchases such package, shall be liable to collect TCS at the rate of 5%.

In non-PAN/ Aadhaar cases the rate shall be 10%.

There is no monetary limit for this transaction, irrespective of any amount TCS must be collected by seller of that package

This section will not be applicable in following cases:

If the buyer is liable to deduct TDS under any other provisions and has deducted

If a buyer is CG, SG, an embassy, a high commission, a legation, a commission, a consulate, the trade representation of a foreign state, a local authority or any other person as notified by CG

Overseas tour program package” is proposed to be defined to mean any tour package which offers visit to a country or countries or territory or territories outside India and includes expenses for travel or hotel stay or boarding or lodging or any other expense of similar nature or in relation thereto.

Note- 3. Section 206C(1H) – TCS on sale of any goods [except goods on which TCS applicable as per Section 206C (1), 206C (1F) and 206C (1G)]

A seller of goods is liable to collect TCS at the rate of 0.075% on consideration received from a buyer in a previous year in excess of fifty lakh rupees.

Export of goods is not covered under TCS on sale of goods

In non-PAN/ Aadhaar cases the rate shall be 1%.

Only those sellers whose total sales, gross receipts or turnover from the business carried on by it exceed ten crore rupees during the financial year immediately preceding the financial year, shall be liable to collect such TCS.

No such TCS is to be collected, if the seller is liable to collect TCS under other provision of section 206C such as Section 206C (1), 206C (1F) and 206C (1G) or the buyer is liable to deduct TDS under any provision of the Act and has deducted such amount.

The above provision would not apply where the buyer is liable to deduct TDS under any other provisions of the Act like Alcoholic Liquor for Human Consumption, Scrap, Minerals etc. and has deducted such amount; or the buyer is the Central/State Govt., an embassy, a High Commission, Legation, Consulate, the trade representative of foreign state, local authority; or any class of person notified by the Central Govt. in the official gazette for the purpose subjects to such condition as specified in that notification.

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