TCS- Section 206C(1G)

What is the rate of TCS?
As per the section 206C (1G) of the Finance act 2020 requires the levy of the TCS .The new provisions regarding TCS on “overseas tour packages” requires tha...
Mon, 14 Dec, 2020 at 7:38 PM
Whether any threshold limit is there for TCS?
No, there is no threshold limit of charging TCS on tour packages. Even a sale of Rs. 100/- will attract Tax collection.
Tue, 15 Dec, 2020 at 7:58 PM
Whether the overseas package will include the travel by road also like travel package for Bhutan/Nepal/Myanmar?
Yes, any tour outside Indian Territory would be subject to TCS.
Tue, 15 Dec, 2020 at 7:59 PM
Whether the TCS will be applicable if we go to Domestic destination & then International Destination in single package?
Yes. In such cases, entire amount is subject to TCS.
Tue, 15 Dec, 2020 at 8:01 PM
Is it applicable for the buyers outside India?
It requires every seller to collect from Buyer irrespective of their place of situation. That is, if a Buyer from India is facilitated by a seller outside I...
Tue, 15 Dec, 2020 at 8:03 PM
What if the tour package will be cancelled subsequently?
There is no provision as such for the refund of the amount of 5% TCS to the buyer by the booking agent. The buyer would be required to claim it back in thei...
Tue, 15 Dec, 2020 at 8:04 PM
What if the buyer doesn’t have taxable income and he wants to furnish 15G/15H or a declaration that he doesn't have any income.
There is no exception from TCS, under such a case and it is not dependent on the income of the buyer. TCS would be applicable in all such cases. There is no...
Tue, 15 Dec, 2020 at 8:14 PM
If the buyer is minor (like in case of an overseas tour package arranged by school in direct arrangement with a tour operator) is TCS applicable on him?
Yes, TCS will be applicable. In case of minors,  the PAN of the parents will be required in view of the earlier CBDT circular.
Tue, 15 Dec, 2020 at 8:18 PM
What if, Honeymoon tour package of a couple is sponsored by the Parents of the couple?
The buyer of a tour package in such a case, is the parents and not the couple. TCS will be applicable on the person to whom the billing is done who need not...
Tue, 15 Dec, 2020 at 8:33 PM
Whether the TCS will be applicable if a travel agent simply sells the Air ticket /Hotel Bookings/Tours & Transfers independently and not the complete package?
No. It will be worth to note that TCS shall be applicable only in case of an “overseas tour package”, irrespective of the purpose of the trip. Independent a...
Tue, 15 Dec, 2020 at 8:40 PM