Tax
TCS Applicability Calculator
Check if Tax Collected at Source applies to your LRS remittance and at what rate.
Remitter Account Type
Purpose of Remittance
Section 206C(1G) — Other LRS remittance (travel, investments, gifts, etc.)
Key Points
TCS rate: 20% on LRS remittances exceeding ₹7 Lakh in a financial year
No TCS on remittances below ₹7 Lakh threshold per FY
Applicable section: 206C(1G) of the Income Tax Act
TCS is collected by the Authorised Dealer (AD) bank at time of remittance
TCS is visible in Form 26AS — claimable as credit when you file ITR
⚠️ 20% TCS applies from Oct 1, 2023 on all non-education/non-medical LRS remittances
Plan remittances to stay below ₹7L/FY where possible to avoid cash-flow impact
Next Steps
Consider splitting large remittances across financial years to reduce TCS impact
File ITR in India to claim TCS credit (visible in Form 26AS / AIS)
Submit Form 15CA on the IT e-filing portal before remittance if required
Want a personalised review?
Anil Grandhi CA · ex-PwC · Free 15-min call
TCS rates per Finance Act 2023. Subject to Budget amendments. Consult a CA for exact computation.
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