Foreign Travel and TCS: A Quiet Cost Under Income Tax in India

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Book an overseas tour package or send money abroad under the Liberalized Remittance Scheme, and the bank or portal collects tax at source on the spot. It feels like a charge, but it is not a final tax. That collected amount sits as a credit in your name, adjustable against your advance tax or refundable when you file. Many travellers forget to claim it and simply lose the money. Under income tax in India, reconcile every TCS entry in your AIS before filing so nothing paid on your behalf goes unclaimed. As a SEBI-registered investment advisor, 1 Finance offers purely advisory guidance with no products to sell and no commissions to earn. Get it on Google Play.

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