TCS

Tax Collected at Source

Tax collected by seller at the time of sale of specified goods.

What is TCS?

TCS applies on sale of liquor, tendu leaves, scrap, motor vehicles above ₹10 lakh, and remittances above ₹7 lakh under LRS / foreign tour packages. Rates: 0.1% to 5% depending on item. Collected and deposited monthly.

Who needs TCS?

Sellers of specified items.