What is TCS? On Which it is Computed.

Answer Posted / r.ramesh

TAX COLLECTION @ SOURCE

Sl.No. Nature of Goods Rates
1.Alcoholic liquor for human Consumption 1%
2.Tendu leaves 5%
3.Timber obtained under forest lease 2.50%
4.Timber obtained by any mode other than a forest lease
2.50%
5.Any other forest produce not being timber or tendu leaves
2.50%
6.Scrap 1%
7.Parking lot 2%
8.Toll plaza 2%
9.Mining & Quarrying 2%

     Annual Return for TCS to be filed in form No.27E

Half yearly return for the period ending 30th september &
31st March to be filed within 1 month

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