LRS TCS Parameters
Liberalised Remittance Scheme u/s 206C(1G)
TCS Assessment Summary
Applicable Tax Collected at Source liability
Total TCS Payable₹60,000
Effective TCS Rate20%
LRS Threshold Exempted₹7,00,000
TCS of 20% applies on general LRS remittances (others) exceeding ₹7 Lakhs.
TCS collected u/s 206C(1G) is available as credit in Form 26AS/AIS and can be claimed against final income tax liability.
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