Client Filing India Logo

TCS

What Is Tax Collected At Source ?

The new provisions of TCS have come into force with effect from 1 October 2020 and according to it if your turnover is more than 10 crores in the previous financial year i.e. the year ended 31 March 2020, then this year you will have to collect and deposit TCS on your receipts from sale of goods from such buyers from whom you received more than Rs. 50 Lakhs as sale consideration during the current Financial year. The TCS is payable on the amount of receipt which is greater than 50 Lakhs and received after 1 st  Oct. 2020. The rate of TCS is 0.1% .

TCS RATES FOR F/Y 2022-2023

Type of GoodsTax %
Liquor of alcoholic nature, made for consumption by humans1.00%
Timber wood when collected from a forest that has been leased2.50%
Tendu Leaves5.00%
Timber wood when not collected from a forest that has been leased, but any other mode2.50%
A forest product other than tendu leaves and timber2.00%
Scrap1.00%
Toll Plaza, Parking lot, Quarrying and Mining2.00%
Minerals that include lignite or coal or iron ore1.00%
Bullion that exceeds over Rs. 2 lakhs/ Jewellery that exceeds over Rs. 5 lakhs.1.00%

Our best plans

Avatar-10

All inclusive

Basic

TCS return filing for one quarter.

Import from any accounting software or excel.

Manual data limited up to four deductions only.

Apply now
card

Rs.

1180

Avatar-10

All inclusive

Standard

TCS return filing for Two quarter.

Import from any accounting software or excel.

Manual data limited up to four deductions only.

Apply now
card

Rs.

2000

Avatar-10

All inclusive

Premium

TCS return filing for four quarter.

Import from any accounting software or excel.

Manual data limited up to four deductions only.

Apply now
card

Rs.

3540

Frequently asked questions

Whether sales consideration includes GST component?

What are TCS charges?

Who is eligible for TCS tax?

What is the turnover limit for TCS?

What is the due date to file TCS return?

What shall be the rate of TCS if the buyer fails to provide its PAN or Aadhaar?

Head office

Kolkata, West Bengal

36/A Kadapara, Kankurgachi, Kolkata-700054

Andhra Pradesh Branch

Andhra Pradesh

9th Phase, Rama Nilayam Road, Andhrapradesh-500072

Gangtok Branch

Gangtok

Below Supermarket (turning) M.G. Road , Gangtok, East Sikkim-737101.

Siliguri Branch

Siliguri

Ward 8 , Khalpara , Siliguri - 734005

Website Policies


Copyright @ 2020 cilentfilingindia | All right reserved