TCS Calculator
Calculate Tax Collected at Source on various transactions
About TCS Calculator
The TCS (Tax Collected at Source) Calculator helps determine the tax that must be collected by sellers on specified transactions under Sections 206C to 206C-H of the Income Tax Act. TCS is applicable on the sale of goods like timber, tendu leaves, scrap, minerals, luxury cars, and overseas remittances, with rates ranging from 0.1% to 5%. The calculator computes the TCS amount, total consideration, and net payable amount for each transaction type.
From October 1, 2020, new TCS provisions under Section 206C(1H) require sellers with turnover exceeding ₹10 crore to collect 0.1% TCS on sale of goods exceeding ₹50 lakh. Additionally, Section 206C(1G) mandates 5% TCS on overseas travel packages and foreign remittances under LRS exceeding ₹7 lakh. Our calculator covers all TCS sections and rates, helping businesses and individuals understand their TCS obligations for FY 2026-27.
Key Features
- All TCS sections covered (206C to 206C-H)
- Section 206C(1H) — sale of goods above ₹50 lakh
- Section 206C(1G) — overseas remittances and travel
- Rate lookup and threshold computation
- TCS certificate generation guidance
Frequently Asked Questions
What is TCS and how is it different from TDS?
TCS (Tax Collected at Source) is tax collected by the seller from the buyer at the time of sale of specified goods. TDS (Tax Deducted at Source) is tax deducted by the payer from the payee at the time of payment. In TCS, the seller collects and deposits the tax; in TDS, the payer deducts and deposits. Both are advance tax mechanisms, but TCS applies on the buyer while TDS applies on the income recipient.
What is the TCS rate on foreign remittances under LRS?
Under Section 206C(1G), TCS at 5% is applicable on foreign remittances under the Liberalised Remittance Scheme (LRS) exceeding ₹7 lakh in a financial year. For education remittances funded by loans, the rate is 0.5% above ₹7 lakh. This applies to all types of foreign remittances including travel, investment, gift, and maintenance of relatives abroad.
Is TCS applicable on sale of goods?
Yes, under Section 206C(1H), a seller whose total sales turnover exceeds ₹10 crore in the previous financial year must collect 0.1% TCS on sale of goods exceeding ₹50 lakh to any buyer in the current year. This applies only to B2B transactions and does not apply to imports, or where TDS or TCS under other provisions already applies.
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