TCS (Tax Collected at Source) is collected by your bank when your total foreign remittances under LRS exceed ₹10 lakh in a financial year. The TCS rate is 20% on the amount exceeding ₹10 lakh. TCS is NOT an extra tax; it's an advance payment that gets credited to your Form 26AS. You can offset it against your income tax liability when filing your ITR, or claim a refund if your TCS exceeds your tax due.
📌 TCS is deducted by your bank, not by Dhan. If you haven't remitted ₹10 lakh yet this financial year, no TCS applies.
Related FAQs

