How to track TCS on foreign remittance for mutual fund purposes

Tue, 19 May 2026 00:00:00 +0000

TCS (Tax Collected at Source) on LRS foreign remittance was introduced to track international transactions and prevent tax evasion. For investment purposes (foreign stocks, mutual funds), 20% TCS applies on remittance above Rs 10 lakh per FY. TCS is a pre-paid tax; claim as ITR credit and recover refund if your total tax is lower.

Conflict-of-interest disclosure. This guide is published by WebNotes Editorial Team for informational purposes. WebNotes has no commercial relationship with any bank or AMC. No affiliate commission is earned. For substantial international transactions, consult a CA familiar with LRS / cross-border tax.

Foreign Remittance on WebNotes

How to track TCS on foreign remittance for mutual fund purposes