TCS Rates for FY 2018-19 (AY 2019-20)
RATES FOR TAX COLLECTION AT SOURCE
Notes on TCS Rates for FY 2018-19 (AY 2019-20) :-
During the financial year 2018-19, tax shall be collected under section 206C of Income Tax Act at the rates given in the table (infra). If PAN of collectee is not intimated to the collector, tax will be collected by virtue of section 206CC of Income tax Act either at twice the rate specified in the table (infra) or at the rate of 5 per cent, whichever is higher(However, the provisions of section 206CC of Income Tax Act shall not apply in the case of a non-resident collectee who does not have any permanent establishment in India.).
[ Check also TDS Rates for AY 2019-20 (FY 2018-19) ]
TCS Rates for FY 2018-19 (AY 2019-20)
| Aggregate amount subject to TCS during the financial year 2018-19 → | Status of purchaser or licensee or lessee | |||||||||
| Resident | Non-resident individual/HUF/ AOP/BOI/artificial juridical person | Non-resident co-operative society/firm | Non-domestic company | |||||||
| Any amount | Rs. 50 lakh or less | More than Rs. 50 lakh but not more than Rs. 1 crore | More than Rs. 1 crore | Rs. 1 crore or less | More than Rs. 1 crore | Rs. 1 crore or less | More than Rs. 1 crore but not more than Rs. 10 crore | More than Rs. 10 crore | ||
| Different nature of goods | TCS rate(inclusive of SC : Nil, HEC : Nil) | TCS rate(inclusive of SC: Nil, HEC : 4%) | TCS rate(inclusive of SC: 10%, HEC : 4%) | TCS rate(inclusive of SC: 15%, HEC : 4%) | TCS rate(inclusive of SC : Nil, HEC : 4%) | TCS rate(inclusive of SC : 12%, HEC : 4%) | TCS rate(inclusive of SC : Nil, HEC : 4%) | TCS rate(inclusive of SC : 2%, HEC : 4%) | TCS rate(inclusive of SC : 5%, HEC : 4%) | |
| Category A (sale of the following)— | ||||||||||
| A1. | Alcoholic liquor for human consumption (other than Indian made foreign liquor) | 1 | 1.04 | 1.144 | 1.196 | 1.04 | 1.1648 | 1.04 | 1.0608 | 1.092 |
| A2. | Indian made for-eign liquor | 1 | 1.04 | 1.144 | 1.196 | 1.04 | 1.1648 | 1.04 | 1.0608 | 1.092 |
| A3. | Tendu leaves | 5 | 5.2 | 5.72 | 5.98 | 5.2 | 5.824 | 5.2 | 5.304 | 5.46 |
| A4. | Timber obtained under a forest lease | 2.5 | 2.6 | 2.86 | 2.99 | 2.6 | 2.912 | 2.6 | 2.652 | 2.73 |
| A5. | Timber obtained by any mode other than a forest lease | 2.5 | 2.6 | 2.86 | 2.99 | 2.6 | 2.912 | 2.6 | 2.652 | 2.73 |
| A6. | Any other forest produce (not being timber/tendu leaves) | 2.5 | 2.6 | 2.86 | 2.99 | 2.6 | 2.912 | 2.6 | 2.652 | 2.73 |
| A7. | Scrap | 1 | 1.04 | 1.144 | 1.196 | 1.04 | 1.1648 | 1.04 | 1.0608 | 1.092 |
| A8. | Minerals, being coal or lignite or iron ore | 1 | 1.04 | 1.144 | 1.196 | 1.04 | 1.1648 | 1.04 | 1.0608 | 1.092 |
| Category B (grant of lease/license of the following)— | ||||||||||
| B1. | Parking lot, toll plaza, mining and quarrying | 2 | 2.08 | 2.288 | 2.392 | 2.08 | 2.3296 | 2.08 | 2.1216 | 2.184 |
| Category C (not applicable with effect from April 1, 2017) | – | – | – | – | – | – | – | – | – | |
| Category D (sale of the following whether payment is received by cheque or by any other mode) – | ||||||||||
| D1. | Motor vehicle of the value exceeding Rs. 10 lakh | 1 | 1.04 | 1.144 | 1.196 | 1.04 | 1.1648 | 1.04 | 1.0608 | 1.092 |
For more info visit https://www.incometaxindia.gov.in
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