Best AI Website MakerFor official verification and detailed circulars, you can visit the Income Tax Department of India website.
The following table summarizes the standard TCS rates applicable to various categories during the fiscal year 2022-23: Nature of Payment / Goods Standard TCS Rate Threshold Limit Alcoholic Liquor for human consumption 206C(1) Tendu Leaves 206C(1) Timber (Forest lease or other mode) 206C(1) 206C(1) Minerals (Coal, Lignite, Iron Ore) 206C(1C) Parking Lot, Toll Plaza, Mining & Quarrying 206C(1F) Sale of Motor Vehicle Exceeding ₹10 Lakh 206C(1G) Overseas Tour Program Package 206C(1G) LRS - Foreign Remittance (Education Loan) Exceeding ₹7 Lakh 206C(1G) LRS - Foreign Remittance (Other Purposes) Exceeding ₹7 Lakh 206C(1H) Sale of Goods (excluding those above) Exceeding ₹50 Lakh Special Provisions for Non-Filers and Non-PAN Cases tcs rate chart for fy 2022-23 pdf download
Many categories, including scrap, alcoholic liquor, and overseas tour packages, are proposed to move to a flat 2% rate under the newer Income Tax Act frameworks. For official verification and detailed circulars, you can
For the FY 2022-23 period, specific sections govern higher rates if the buyer fails to provide documentation or hasn't filed recent returns: For official verification and detailed circulars
While the FY 2022-23 rates remained relatively stable, subsequent years have seen significant updates:
If the buyer does not provide a PAN or Aadhaar, the collection rate is twice the normal rate or 5% , whichever is higher.
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