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Home > Tax Tools & Calculators > TCS Remittance Calculator

TCS Remittance Calculator

TCS Remittance Calculator helps both individuals, businesses calculate Tax Collected at Source (TCS) on outward remittances from India to foreign countries under LRS (Liberalised Remittance Scheme)

OUTWARD REMITTANCES: are the money transfers from India to abroad for a specific purpose to self or others.

For eg., you are sending Rs. 10 Lakhs from Indian SBI account to Georgia Tech (an US tech university) for your son's education. Calculator calculates the TCS on 10 Lakhs money transfer.

Designed by COE Team, EZTax
Last Reviewed: Mar 15th 2025
TCS Remittance Calculator from EZTax
   TCS Remittance Calculator
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Applicable Rates (B) :
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TCS to be Collected (C= A * B)* As per diff threshold :
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TCS Rates Applicable from 01/04/2025TCS Rates Applicable from 01/10/2023 to 31/03/2025TCS Rates Applicable Up to 30/09/2023

Analysis on TCS Remittance

  1. {{ applicableRate }} i.e., Rs {{ tcsAmount.toLocaleString("en-IN") }} will be collected by the Bank or Financial Institution or Authorized dealer
  2. You need to ensure that PAN and Aadhaar are linked to avoid higher deduction @ 20%
  3. You are required to file your Income Tax return to claim the TCS collected as refund
  4. Keep proper documentation to justify the purpose of remittance.

Next Steps:

  1. Check other calculators from EZTax at Personal Finance & Money Calculators
  2. Check complete Tax Saving Investment Options available
  3. Refer @ TCS on Foreign Remittances Under LRS for more information
  4.  e-File your income tax   now.
  5.  Call  now to Speak to an EZTax.in Tax Expert

Refer Frequently asked Questions (FAQs) on TCS Remittance Calculator below.

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Frequently asked Questions

1.What is TCS?

TCS means Tax Collected at Source. The seller or authorized foreign exchange dealer will collect the taxes at specified percentages at the time of sale on specified goods or services. The tax collected will be deposited to the credit of the Central Government.

2.What is LRS?

LRS means Liberalised Remittance Scheme and it was introduced on 4th Feb 2004 with a limit of 25,000 USD.Later LRS was revised multiple times, from the last revision, all resident individuals including minors can freely remit upto 2,50,000 USD per financial year.Under LRS, an individual can remit the amount to foreign country for investment, expenditure and other permissible reasons.

3.I am sending the money to the USA through my bank for investing in foreign stocks.Does the bank collect TCS?

Yes,TCS is applicable on foreign investment or expenditure or any other permissible transactions. The banks will collect TCS @ applicable rates

4.How can I get the TCS collected?

The TCS can be claimed as a refund by filing your Income tax return at the end of the year. The person needs to file Income tax return mandatorily within specified due date to claim refund

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Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.