Pending professional review. This content was drafted with Claude from official sources and has not yet been reviewed by an ArthaKara professional. Verify against the official sources before relying on it.
Simple meaningTax collected by the seller from the buyer on specified transactions.
Relevant ActIncome-tax Act, 1961
Section / ruleSection 206C
Technical meaning
Tax collected by specified sellers on specified goods or transactions at prescribed rates.
Practical example
A seller of a motor vehicle above Rs 10 lakh collects TCS.
Related terms
- TDS
Official reference
Income-tax Act, 1961, Section 206C
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