TCS is calculated cumulatively across ALL your foreign remittances under LRS for the financial year, including travel, gifts, education, and investments combined. Your bank keeps track. Example: If you send ₹6 lakh for travel and then remit ₹7 lakh for US stocks, your total is ₹13 lakh — TCS at 20% applies on ₹3 lakh (the amount above ₹10 lakh).
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