New TCS Rates for 2023-24: Higher Rates for Non-PAN Holders and Overseas Tour Packages Under Sections 206CC & 206CCA.
The rates for Tax Collection at Source (TCS) for the financial year 2023-24, including specific rates for various goods and services such as alcoholic beverages, tendu leaves, timber, and minerals. TCS rates are subject to changes effective from October 1, 2023, with notable increases for certain categories like LRS for other purposes and overseas tour packages. It also details conditions under sections 206CC and 206CCA regarding higher TCS rates for non-furnishing of PAN and non-filing of ITR. Surcharge rates for non-residents are based on income thresholds, with additional health and education cess applied.