CA Niteshkumar Delvadiya

Every seller selling specified goods is required to collect Tax collected at source (TCS) from the buyer at the prescribed rate. We have tried to compile the rates in below mentioned chart. Section For Payment of Threshold limit TCS Rate % FY 2023-24 FY 2022-23 206C(1)(i) Alcoholic Liquor for Human Consumption NA 1% 1% 206C(1)(iii) Timber obtained under a forest lease NA 2.50% 2.50% 206C(1)(iv) Timber obtained by any mode other than under a forest lease NA 2.50% 2.50% 206C(1)(v) Any other forest produce not being timber or tendu leaves NA 2.50% 2.50% 206C(1)(vi) Scrap NA 1% 1% 206C(1C)(i) Grant of a license, lease, etc of the Parking lot NA 2% 2% 206C(1C)(ii) Grant of a license, lease, etc of Toll Plaza NA 2% 2% 206C(1C)(iii) Grant of Mining and Quarrying NA 2% 2% 206C(1)(ii) Tendu Leaves NA 5% 5% 206C(1)(vii) Minerals, being coal or lignite, or iron ore NA 1% 1% 206C(1F) Sale of the motor vehicle whether payment is received by cheque or by any other mode > 10 lakh 1% 1%...