Tax Collected at Sources or TCS Rate Chart - FY 2019-20

Hello Everyone. In this post, we will take a look at the TCS rates on specific goods under various categories.

The TCS rates for goods specified under Section 206C of the Income Tax Act is as follows:

Nature of Goods Rate of TCS applicable
Category A (sale of the following)
A-1. Alcoholic Liquor for Human Consumption
(other than Indian Made Foreign Liquor)
A-2. The Indian made Foreign Liquor 1%
A-3. For Tendu Leaves 5%
A-4. Timber which is purchased under a Forest Lease 2.50%
A-5.Timber obtained from any mode other than under a Forest Lease 2.50%
A-6. Any other Forest Product other than Timber or Tendu Leaves 2.50%
A-7. For Scrap material 1%
A-8. For Minerals, being Coal or Lignite or Iron Ore 1%
Category-B (Grant of Lease/ License of the following)
B-1. For Parking Lot, Toll Plaza, Mining as well as Quarrying (excluding Mining and Quarrying of Mineral Oil, Petroleum and Natural Gas) 2%
Category-C [TCS Not Applicable here from April 1, 2017]
Category D (sale of the below things whether payment is received by cheque or by any other means)
D-1. The motor vehicle with worth over Rs. 10 lakh 1%

Note: If the purchaser or licensee is a non-resident or foreign company, there is an increase in the TCS tax rates as health and education cess and surcharge will be added to it.

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