AY 2022-23: Challan Code, nature of receipts, and applicable TCS rates

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In FY 2020-21, the government has announced a package of Rs. 20 Lakhs crore in which TCS rates were revised and cut by 25%. For this, the effective dates were 14 May 2020 till 31st March 2021. Now the TCS Rates For AY 2022-23 have revised, which are given here.

TCS Rates For AY 2022-23

Here is the TCS Challan Code, nature of receipts, and applicable TCS Rates For AY 2022-23-

Category- 1: Section 206C (1)

Challan Code Description/Nature of Receipts Rate of TCS
6CA Alcoholic Liquor for Human Consumption 1%
6CB Timber obtained under a forest lease 2.5%
6CC Timber obtained by any other mode 2.5%
6CD Any other forest produce not being timber or tendu lives 2.5%
6CE Scrap 1%
6CI Tendu Leaves 5%
6CJ Minerals, being coal or lignite or iron ore 1%
6CK Bullion and Jewellery
TCS rates for FY 2021-22

Category- 2: Section 206C (1C)

Challan Code Description/Nature of Receipts Rate of TCS
6CF Parking lot 2%
6CG Toll Plaza 2%
6CH Mining and quarrying 2%

Also Read- AY 2022-23: TDS section, nature of payments, threshold, and applicable TDS rates

Category- 3: Section 206C (1F)

Challan Code Description/Nature of Receipts Rate of TCS
6CL Motor Vehicle (any mode of payment) 1%

Category- 4: Section 206C (1E)

Challan Code Description/Nature of Receipts Rate of TCS
6CM Cash Sale of Any Goods (Other than bullion/jewelry)
6CN Providing any services (Other than Ch-XVII-B)

Also Read- Section 206CCA: Higher Rate of TCS for non-filers of Income Tax Return

Category- 5: Section 206C (1G)

Challan Code Description/Nature of Receipts Rate of TCS
6CO Overseas Tour Program Package 5% (Non-PAN/Aadhar @ 10%)
6CP Remittance under LRS for education loan taken from financial institutions mentioned under section 80E .50%
6CQ Remittance under LRS (For a purpose other than for the purchase of overseas tour package or for education loan taken from financial institutions mentioned under section 80E) 5% (Non-PAN/Aadhar @ 10%)
TCS rates for FY 2021-22

Category- 6: Section 206C (1H)

Challan Code Description/Nature of Receipts Rate of TCS
6CR Sale of Goods .10% (Non-PAN/Aadhar @ 1%)
New Tax Route Telegram

Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.

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Compiled by- CA Chirag Agarwal (Practicing Chartered Accountants)


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