TCS Calculator for International Remittance
from India
This is a tool to calculate the TCS (Tax Collected at Source) to be paid in India while doing forex transactions for different purposes under the LRS.
Updated On: 1 Apr 2025
| Nature of Payment | Up to Rs. 10 Lakh | Above Rs. 10 Lakh |
|---|---|---|
| Overseas Education (Financed by Bank Loan) | 0% | 0% |
| Overseas Education | 0% | 5.00% |
| Medical Treatment | 0% | 5.00% |
| Other purposes (Sending Gift, maintenance, etc) | 0% | 20.00% |
| Overseas Tour Programme Package | 5.00% | 20.00% |
| Buying Foreign Currencies & Forex Travel Card | 0% | 20.00% |
| Usage of INR International Debit Card | 0% | 20.00% |
Tax Collected at Source (TCS) is a tax that may be levied on outward remittance transactions from India depending on;
- The amount being transferred abroad
- Remittance history in the present financial year
- Purpose of remittance
- Source of funds
TCS is only applicable to remittance transactions done under the LRS scheme of the RBI.
Please Note: This TCS amount is not an additional charge and can be later claimed as credit or refund when filing income tax returns.
How Is TCS Calculated?
- The TCS free limit of Rs 10 Lakh is not applied to each remittance transaction separately.
- Instead, to calculate TCS, the sum total of forex transactions done in the present financial year is considered.
- If it is below Rs 10 Lakhs, then TCS won’t apply to your remittance transaction (except for international tour-related payments).
- If it is above Rs 10 Lakhs, then the TCS applicable will be calculated based on your amount, purpose of remittance and source of funds.
TCS on Remittance Transactions by NRIs
TCS is only applicable for remittance transactions done under the LRS Scheme.
NRI remittances don’t fall under LRS.
Thus the transactions done by NRIs such as NRO to NRE transfers, NRE repatriation, and purchase of foreign currency during their visit to India won’t come under the scope of the TCS rule.