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TCS On Foreign Remittance Calculator

Work out tcs on foreign remittance instantly with clear inputs, formula shown and shareable results.

About TCS On Foreign Remittance Calculator

Tax collected at source on outward remittance applies only to the amount above an annual free threshold, at a rate that depends on the purpose. It is a prepayment of your own tax, recoverable as a credit in your return.

Formula

TCS on remittance

TCS = (remittance - annual threshold) × rate for the purpose

Worked example

With the default values below, TCS On Foreign Remittance Calculator returns Tax Collected At Source of $160,000.00. Change any input above and every figure here is recalculated in your browser.

Inputs used

Remittance Amountminimum 0
1,500,000
Purpose Of Remittanceone of Education funded by loan (0.5%), Education or medical (5%), Overseas travel or other (20%)
Overseas travel or other (20%)
Annual Exempt Thresholdminimum 0
700,000

Results

Tax Collected At Source
$160,000.00
Amount Above The Threshold
$800,000.00
Rate Applied
20.00%
Total Cash Required
$1,660,000.00

Step by step

  1. 1Values used
  2. 2TCS on remittance
  3. 3Tax Collected At Source= 160,000.00
  4. 4Amount Above The Threshold= 800,000.00
  5. 5Rate Applied= 20.00
  6. 6Total Cash Required= 1,660,000.00

Assumptions and limits

  • The result is derived only from the 3 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax or fees or charges into account.
  • Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • Tax figures are estimates based on the rates, caps and thresholds you enter. Real rules differ by jurisdiction and change every year, and personal circumstances alter the outcome. This is not tax or financial advice — confirm with a qualified adviser.
  • This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Tax figures are estimates based on the rates, caps and thresholds you enter. Real rules differ by jurisdiction and change every year, and personal circumstances alter the outcome. This is not tax or financial advice — confirm with a qualified adviser.

Frequently Asked Questions

Is this an extra tax?

No. It is collected in advance and credited against your annual liability, so the real cost is only the cash flow.

Why is the rate on travel so high?

It is designed to capture undeclared income funding discretionary overseas spending.

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