Section
Nature of payment
Applicable from 01/04/2020 to 13/05/2020
TCS Rate (%)
Applicable from 14/05/2020 to 31/03/2021
206C
Scrap
1
0.75
Tendu leaves
5
3.75
Timber obtained under a forest lease or other mode
2.5
1.875
Any other forest produce not being a timber or tendu leaves
Alcoholic liquor for human consumption and Indian made foreign liquor
Parking lot, toll plaza, mining and quarrying (other than mining and quarrying of mineral oil, petroleum and natural gas)
2
1.5
Minerals, being coal or lignite or iron ore
Sale of motor vehicle of the value exceeding Rs. 10 Lacs
Remittance out of India under the Liberalized Remittance Scheme of the RBI of the value exceeding 7 Lacs in a financial year (Applicable from 01.10.2020) – TCS will be charged on excess amount over 7 lacs
N.A.
Sale of overseas tour programme package (Applicable from 01.10.2020)
Remittance out of India for education under the Liberalized Remittance Scheme of the RBI of the value exceeding 7 Lacs in a financial year (Applicable from 01.10.2020) – TCS will be charged on excess amount over 7 lacs
0.5
Sale of any goods (other than goods exported out of India or goods given in the above points) of the value exceeding 50 Lacs (Applicable from 01.10.2020) – TCS will be charged on excess amount over 50 lacs
0.075
Note: In case of non-furnishing of PAN/Aadhaar by collectee, TCS will be charged at twice of the normal rate applicable or 5% {1% in case of sale of any goods (given in the last point) of the value exceeding 50 Lacs}, whichever is higher.