Finance Bill, 2026 proposes revision to the rate of TCS on certain identified transactions, effective from 1st April 2026:
SI No. | Transaction | Current Provisions | Proposed Provisions |
(i) | Remittance under LRS exceeding INR 10 lakhs | 5% (education or medical treatment), 20% (for other purposes) | 2% (education or medical treatment), 20% (for other purposes) |
(ii) | Sale of overseas tour programme package | 5% (upto INR 10 lakhs), 20% (exceeding INR 10 lakhs) | 2% (irrespective of amount) |
(iii) | Sale of Scrap | 1% | 2% |
(iv) | Sale of Minerals (Coal, Lignite, Iron Ore) | 1% | 2% |
(v) | Sale of Tendu Leaves | 5% | 2% |
(vi) | Sale of alcohol liquor for human consumption | 1% | 2% |
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