Collect at source. Report with confidence.
Probic monitors thresholds, supports collection, and files TCS returns accurately.
What is TCS?
Tax Collected at Source applies to specified transactions where sellers collect tax from buyers and report those collections to the tax department.
TCS Applicability & Rates
Rates are indicative and should be validated against the latest notifications.
Form 27EQ - Tax Collected at Source (TCS)
| Section | Nature of Collection (TCS) | TCS Rate | Threshold |
|---|---|---|---|
| 206C(1) | Sale of scrap | 1% | — |
| 206C(1) | Sale of tendu leaves | 5% | — |
| 206C(1) | Sale of timber / forest produce | 2.5% | — |
| 206C(1C) | Grant of lease of mine / quarry / parking lot / toll plaza | 2% | — |
| 206C(1F) | Sale of motor vehicle | 1% | ₹10,00,000 |
| 206C(1G) | Remittance under LRS - education loan | 0.5% | ₹7,00,000 |
| 206C(1G) | Remittance under LRS - other purposes | 20% | ₹7,00,000 |
| 206C(1H) | Sale of goods (seller collects) | 0.1% | ₹50,00,000 |
Penalties for Non-Compliance
Failure to comply with TCS provisions or file returns within due dates can attract interest and penalties. Probic helps you stay compliant year-round.
Keep your TCS filings spotless
Probic monitors thresholds, collects correctly, and files Form 27EQ quarterly.
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