TCS chart ay 2027 28 pdf Archives - Tax Heal https://www.taxheal.com/tag/tcs-chart-ay-2027-28-pdf Complete Guide for Income Tax and GST in India Thu, 09 Apr 2026 04:33:26 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.4 TCS Rates FY 2026 27 under Income Tax Act 2025 from 1st April 2026 https://www.taxheal.com/tcs-rates-fy-2026-27-under-income-tax-act-2025.html https://www.taxheal.com/tcs-rates-fy-2026-27-under-income-tax-act-2025.html#comments Sat, 04 Apr 2026 05:15:32 +0000 https://www.taxheal.com/?p=120775 TCS Rates FY 2026 27 under Income Tax Act 2025 from 1st April 2026 TCS Rates FY 2026 27 under Income Tax Act 2025 from 1st April 2026 TCS Rate for FY 2026 27 are give in Section 394 Income Tax Act 2025 Collection of tax at source. and TDS Rates for FY 2026-27 are… Read More »

]]> TCS Rates FY 2026 27 under Income Tax Act 2025 from 1st April 2026

TCS Rates FY 2026 27 under Income Tax Act 2025

TCS Rates FY 2026 27 under Income Tax Act 2025 from 1st April 2026

TCS Rate for FY 2026 27 are give in Section 394 Income Tax Act 2025 Collection of tax at source. and TDS Rates for FY 2026-27 are give in Section 393 Income Tax Act 2025 Tax to be deducted at source.

for TDS Rates FY 2026-27 Refer  TDS Rates FY 2026 27 under Income Tax Act 2025 from 1st April 2026

TSC Rates FY 2026 27

Under the new Income-tax Act, 2025, which applies to amounts debited or received on or after April 1, 2026, the provisions relating to Tax Collected at Source (TCS) have been consolidated under Section 394.

Here is the updated table for Tax Collected at Source (TCS) provisions for Financial Year 2026-27, including the specific Section and Table references from the new Income-tax Act, 2025:

Nature of Receipt Person Collecting Rate of TCS Threshold Limit / Condition Section & Table Reference (Income-tax Act, 2025)
Sale of alcoholic liquor for human consumption Seller 1% – Section 394(1) [Table: Sl. No. 1]
Sale of tendu leaves Seller 5% – Section 394(1) [Table: Sl. No. 2]
Sale of timber (under a forest lease or otherwise) or any other forest produce Seller 2% – Section 394(1) [Table: Sl. No. 3]
Sale of scrap Seller 1% – Section 394(1) [Table: Sl. No. 4]
Sale of minerals (coal, lignite, or iron ore) Seller 1% – Section 394(1) [Table: Sl. No. 5]
Sale of motor vehicles or other notified goods Seller 1% Sale consideration exceeding ₹10,00,000 Section 394(1) [Table: Sl. No. 6]
Remittance under the Liberalised Remittance Scheme (LRS) Authorized Dealer / Seller 5% for purposes of education or medical treatment;

20% for purposes other than education or medical treatment.

 Amount or aggregate amounts exceeding ₹10,00,000 Section 394(1) [Table: Sl. No. 7]
Sale of “overseas tour programme package” (including expenses for travel, hotel stay, boarding, lodging, or similar expenditure).  Seller (a) 5% of amount or aggregate amounts up to ₹10,00,000;

(b) 20% of amount or aggregate amounts exceeding ₹10,00,000

 Amount or aggregate amounts exceeding ₹10,00,000  Section 394(1) [Table: Sl. No. 8]
Use of parking lot, toll plaza, mine, or quarry for the purpose of business (excluding mining and quarrying of mineral oil/petroleum/natural gas). Licensor or lessor 2% Section 394(1) [Table: Sl. No. 9]

Important Rules for TCS Compliance:

  • Timing of Collection: Tax must be collected either at the time the amount payable is debited to the account of the buyer/licensee/lessee, or at the time of receiving the payment (in cash, cheque, draft, or any other mode), whichever is earlier.
  • Non-Furnishing of PAN: If the buyer or person paying the amount fails to furnish a valid Permanent Account Number (PAN), the seller/collector is legally required to collect tax at a higher rate. This rate will be twice the normal specified rate or 5%, whichever is higher (subject to a maximum cap of 20%).
  • Interest on Defaults: If you fail to collect the required TCS, you will be liable to pay interest at 1% per month (or part of a month) from the date the tax was supposed to be collected until it is actually collected. If you collect the TCS but delay depositing it to the Government account, the interest penalty increases to 1.5% per month (or part of a month) from the date of collection to the actual date of payment.

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for more refer Income Tax India official website click here

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