कडङ्करदक्षिणाच्छ च

Operational rule vidhi

The affixes छ (ईयं) and यत् (यं) comes in the sense of 'deserving that' after the words 1. कडङ्गर and 2. दक्षिणा.

Word by word (padaccheda)

Left context कडङ्कर- दक्षिणात् pañcamī · ekavacanaWord छ Indeclinable च avyaya

Left context Pañcamī (5th case): "after X", the operation applies to what follows (1.1.67 तस्मादित्युत्तरस्य). Also used for limits and sources.
Word Case not marked in the source data.
Indeclinable An avyaya such as च "and", वा "optionally", न "not".

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Full reading

कडङ्कर-दक्षिणात् छ च

Pāṇini leaves out words that carry over from earlier sūtras. Expand to see the rule as a reader actually understands it.

Commentary

The affixes छ (ईयं) and यत् (यं) comes in the sense of 'deserving that' after the words 1. कडङ्गर and 2. दक्षिणा।
This debars ठक् ॥ Thus कडङ्करमर्हति = कडङ्करीयः or कडङ्कयः 'one deserving straw' such as a cow. So also दक्षिणीयः or दक्षिण्यो ब्राह्मणः 'a Brahmana deserving alms.'

Śrīśa Chandra Vasu, The Ashtadhyayi of Panini (1897), via ashtadhyayi.com.