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Rates of Tax Collection at Source for the Financial Year 2023-24 - Income Tax - Ready Reckoner - Income TaxExtract ..... [w.e.f. 1.7.2012] 1% 206C(1C) Lease or license of Parking lot, toll plaza, mining & quarrying 2% 206C(1F) Sale Value of Motor Vehicle whether in cheque or in any other mode of receipt 1% 206C(1G) Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in a financial year if remitted amount is out of loan obtained from any financial institution u/s 80E for the purpose of pursuing any education 0.5% (applicable from 01.10.2020) Foreign remittance through Liberal ..... x x x x x Extracts x x x x x Rates of Tax Collection at Source for the Financial Year 2023-24 - Income Tax - Ready Reckoner - Income Tax x x x x x Extracts x x x x x ..... charge in case of foreign company and amount exceeds ₹ 1 Crore to ₹ 10 Crore. In case of more than ₹ 10 Crore, 5% surcharge is applicable. 2. Cess Health and Education Cess - 4% of Income Tax Note 1: TCS Rates on Non Furnishing of PAN u/s. 206CC As per section 206CC, notwithstanding anything contained in any other provisions of this Act, any person paying any sum or amount, on which tax is collectible at source under Chapter XVII-BB (herein referred to as collectee) shall furni ..... x x x x x Extracts x x x x x Rates of Tax Collection at Source for the Financial Year 2023-24 - Income Tax - Ready Reckoner - Income Tax x x x x x Extracts x x x x x ..... , Amendment) 2.2 TCS rate in case of Non Availability of PAN and not filing of ITR If the provision of section 206CC (i.e. PAN not available) of the Act is applicable to a “specified person”, in addition to the provision of this section, the tax shall be collected at higher of the two rates provided in this section and in section 206CC of the Act. 2.3 Collectee i.e. Specified Person “Specified person” proposes to means a person who has not furnished the return of income f ..... x x x x x Extracts x x x x x Rates of Tax Collection at Source for the Financial Year 2023-24 - Income Tax - Ready Reckoner - Income Tax x x x x x Extracts x x x x x
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