Calculate Tax Collected at Source (LRS) on Foreign Transfers
Select the category to apply the correct TCS rate.
Education (Financed by Loan)
Education (Self-Funded/Family)
Medical Treatment
Overseas Tour Package
Other (Stocks, Maintenance, Gifts, etc.)
The amount you intend to transfer today.
Total amount already transferred since April 1st (LRS Limit Check).
Total Cumulative Amount (FY):₹ 0
Applicable TCS Rate:0%
Base Amount for TCS (This Transaction):₹ 0
TCS Amount Payable:₹ 0
Total Cost to Debit (Remittance + TCS):₹ 0
function calculateTCS() {
var currentAmt = parseFloat(document.getElementById('currentAmount').value);
var previousAmt = parseFloat(document.getElementById('previousAmount').value);
var purpose = document.getElementById('remittancePurpose').value;
// Validation
if (isNaN(currentAmt) || currentAmt < 0) {
alert("Please enter a valid current remittance amount.");
return;
}
if (isNaN(previousAmt) || previousAmt < 0) {
previousAmt = 0;
}
var totalCumulative = currentAmt + previousAmt;
var threshold = 700000; // 7 Lakh INR
var tcsAmount = 0;
var applicableRateText = "";
var taxableBase = 0;
// Logic Helpers
// We calculate Total TCS due on Cumulative Amount, then subtract TCS already presumed paid on Previous Amount
// This handles cases where user crosses the threshold in the middle of this transaction.
var calculateCategoryTCS = function(amount, type) {
if (amount threshold) {
tax = (amount – threshold) * 0.005;
}
} else if (type === 'edu_self' || type === 'medical') {
// 5% above 7 Lakhs
if (amount > threshold) {
tax = (amount – threshold) * 0.05;
}
} else if (type === 'tour') {
// Tour Package: 5% up to 7 Lakhs, 20% above 7 Lakhs
// Note: Tour packages usually don't have a tax-free threshold, just a rate threshold.
if (amount threshold) {
tax = (amount – threshold) * 0.20;
}
}
return tax;
};
var totalTCSLiability = calculateCategoryTCS(totalCumulative, purpose);
var previousTCSLiability = calculateCategoryTCS(previousAmt, purpose);
tcsAmount = totalTCSLiability – previousTCSLiability;
// Ensure we don't get negative TCS (should not happen with cumulative logic, but safety check)
if (tcsAmount threshold) {
applicableRateText = "20% (on excess of ₹7L), 5% (up to ₹7L)";
} else {
applicableRateText = "5% (Flat)";
}
} else {
applicableRateText = "20% (Above ₹7L)";
}
// Calculate 'Base Amount' for this specific transaction
// This is purely for display to show user on what portion tax is applied
if (purpose === 'tour') {
taxableBase = currentAmt; // Tax applies on first rupee for tour packages (rate varies)
} else {
// How much of current amount pushes over 7L?
var previousOver = Math.max(0, previousAmt – threshold);
var totalOver = Math.max(0, totalCumulative – threshold);
taxableBase = totalOver – previousOver;
}
var totalPayable = currentAmt + tcsAmount;
// Formatting currency
var formatter = new Intl.NumberFormat('en-IN', {
style: 'currency',
currency: 'INR',
minimumFractionDigits: 0,
maximumFractionDigits: 2
});
// Update DOM
document.getElementById('resTotalCumulative').innerText = formatter.format(totalCumulative);
document.getElementById('resRate').innerText = applicableRateText;
document.getElementById('resTaxableBase').innerText = formatter.format(taxableBase);
document.getElementById('resTCSAmount').innerText = formatter.format(tcsAmount);
document.getElementById('resTotalPayable').innerText = formatter.format(totalPayable);
document.getElementById('tcsResults').style.display = 'block';
}
Understanding TCS on International Rates (LRS)
When transferring money abroad from India under the Liberalised Remittance Scheme (LRS), the government mandates the collection of Tax Collected at Source (TCS). This calculator helps you estimate the TCS liability based on the latest financial regulations (updated for FY 2023-24 and beyond).
Key Concept: The ₹7 Lakh Threshold
For most categories, TCS is only applicable if your aggregate remittances in a financial year exceed ₹7,00,000. However, the rates differ significantly based on the purpose of the transfer.
Current TCS Rates (Latest Rules)
The rates vary depending on whether the funds are for education, medical treatment, tour packages, or investments (like US stocks or real estate).
Purpose of Remittance
TCS Rate (Up to ₹7 Lakh)
TCS Rate (Above ₹7 Lakh)
Education (Financed by Education Loan)
Nil
0.5%
Education (Self-Funded)
Nil
5%
Medical Treatment
Nil
5%
Overseas Tour Packages
5%
20%
Any Other Purpose (Stocks, Gifts, Maintenance)
Nil
20%
How the Calculation Works
The TCS is calculated on a cumulative basis for the financial year (April 1 to March 31). The bank or authorized dealer will check your PAN card history to determine how much you have already remitted.
Scenario 1 (Education Loan): If you remit ₹10 Lakhs, TCS is 0.5% on the amount exceeding ₹7 Lakhs (i.e., on ₹3 Lakhs). TCS = ₹1,500.
Scenario 2 (Stocks/Investments): If you invest ₹10 Lakhs in foreign stocks, TCS is 20% on the excess ₹3 Lakhs. TCS = ₹60,000.
Scenario 3 (Tour Packages): There is no zero-tax threshold. You pay 5% on the first ₹7 Lakhs and 20% on anything above that.
Is TCS an Additional Cost?
Technically, no. TCS is not a final tax but an advance tax. The amount collected is linked to your PAN. You can claim this amount as a tax credit when filing your Income Tax Return (ITR), or adjust it against your total income tax liability for the year.