What is TCS rate for the month of March
Meena Teli (95 Points)
17 May 2020
What is TCS rate for the month of March
3 Replies
Asha Kanta Sharma
(Manager - Finance & Accounts)
(36380 Points)
Replied 17 May 2020
TCS Rate Chart for FY 2020-21 Pre & Post 14th May 2020
| S. No | Section of the Income-tax Act | Nature of Receipts | Existing Rate of TCS | Reduced rate from 14/05/2020 to 31/03/2021 |
| 1 | 206C(1) | Sale of | ||
| (a) Tendu Leaves | 5% | 3.75% | ||
| (b)Timber obtained under a forest lease | 2.5% | 1.875% | ||
| (c) timber obtained by any other mode | 2.5% | 1.875% | ||
| (d) Any other forest produce not being timber/tendu leaves | 2.5% | 1.875% | ||
| (e) scrap | 1% | 0.75% | ||
| (f) Minerals, being coal or lignite or iron ore | 1% | 0.75% | ||
| 2 | 206C(1C) | Grant of license, lease, etc. of
(a) Parking lot |
2% | 1.5% |
| (b) Toll Plaza | 2% | 1.5% | ||
| (c) Mining and quarrying | 2% | 1.5% | ||
| 3 | 206C(1F) | Sale of motor vehicle above 10 lakhs | 1% | 0.75% |
| 4 | 206C(1H) | Sale of any other goods | 0.1%
(w.e.f 01.10.2020) |
0.075% |
suraj zanwar
(Student CA IPC / IPCC)
(352 Points)
Replied 17 May 2020
Tcs rate for the month of march is not change it remain same, the tcs rate is reduced from 14 may 2020 onwards.
Thanks
Thanks
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