TCS a bank collects when you send money abroad for investment, gifts or family
Estimates only, not financial advice. What you type stays on your device. Checked against sources on 30 Oct 2026.Sending money abroad to invest in foreign shares, support family or make a gift is free of TCS up to ₹10 lakh in a tax year. Above that the bank collects 20% of the excess and pays it to the government in your name, which you then claim against your income tax. Enter the amount and what you have already sent this year to see the TCS and what leaves your account.
FY 2026-27 · Rates and rules read from the sources listed on this page (the earliest on 30 Oct 2026); they may have changed since.
The page opens on "Investment, gift, family, other"; change the Purpose if needed.
Enter the Amount you are sending.
Enter what you have already sent under LRS this tax year, so the threshold is counted.
Read the TCS collected and the Threshold left this year, then open Same amount, every purpose.
A resident individual can send money abroad under the Reserve Bank's Liberalised Remittance Scheme, up to USD 2,50,000 a financial year. When the amount crosses ₹10 lakh in a tax year, the bank collects tax at source (TCS) on the part above it. This calculator works out that TCS by purpose and shows what will leave your account.
| Purpose | TCS |
|---|---|
| Education from an education loan | Nil |
| Education from own funds, medical treatment | 2% above ₹10 lakh |
| Investment, gifts, family maintenance, other | 20% above ₹10 lakh |
| Overseas tour package | 2% of the whole price |
The threshold is for the year, not each payment. Enter what you have already sent this tax year, and only the part of this remittance above the ₹10 lakh left is taxed. A bank sees only what went through it, so a second bank may collect less; the tax owed is settled in your return either way.
The rest of the article, and all 6 questions about LRS TCS Calculator, are on the LRS TCS Calculator page.
No, for remittances under the Liberalised Remittance Scheme, whatever the purpose. The ₹10 lakh counts everything sent in the tax year, so a ₹4 lakh remittance after ₹8 lakh already sent is taxed on ₹2 lakh. Overseas tour packages are the exception: from 1 April 2026 the seller collects 2% from the first rupee.
Yes. Section 390(5) treats TCS paid to the government as tax paid on your behalf. It shows in your tax credit statement, is set off against your income tax for the year, and anything above your tax is refunded after you file a return. The calculator shows the TCS collected, not your final tax.
From 1 April 2026 the seller collects 2% of the whole package price, with no threshold, so a ₹3 lakh package carries ₹6,000 of TCS. Until 31 March 2026 the rate was 5% up to ₹10 lakh and 20% above. The bank does not collect TCS again on money the tour seller has already charged it on.
The Reserve Bank's Liberalised Remittance Scheme allows a resident individual up to USD 2,50,000 in a financial year, April to March, for permitted purposes. TCS is a separate question: it is collected above ₹10 lakh in a tax year, well below that limit, and the calculator works it out in rupees.
Rates and rules change; check the source before you rely on a figure.
Still stuck? Ask about LRS TCS Calculator and anybody who knows can answer. No account needed.
Same job, other tools: Income Tax Calculator FY 2025-26 – Tax for the year ended 31 March 2026, for a return you are still filing · Income Tax Calculator FY 2026-27 (AY 2027-28) – Tax on your salary for the year that started on 1 April 2026 · Capital Gains on Property – Both routes on a flat or land: 12.5% plain, or 20% after indexation, whichever costs less · LTCG Calculator – Long-term capital gains tax at 12.5%, with the first ₹1.25 lakh on shares left out · TDS on FD for Senior Citizens – Whether a bank deducts TDS on a senior citizen’s FD interest under the ₹1 lakh limit.
On the related tools: GST Inclusive Calculator – Split a price that already includes GST into value and tax.
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