TCS on foreign remittances calculator.
Since Budget 2025, the bank collects tax at source only once your foreign remittances cross ₹10 lakh in a financial year — at 5% or 20% depending on why you're sending it, and at nil for loan-funded education. See exactly what your next transfer will attract.
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FY 2025-26 rates under Section 206C(1G): threshold ₹10 lakh aggregate per PAN per financial year across all authorised dealers. TCS is a prepaid credit, not a cost — it reflects in Form 26AS, adjusts against your tax (including through your employer's TDS on salary), and any excess is refunded on filing. Not tax advice.
NRIs: this scheme is not for you — and that's good news
LRS and its TCS apply to residents sending money out of India. If you are an NRI repatriating your own funds from an NRO account — sale proceeds, rent, inheritance — you are under the USD 1 million scheme instead: no TCS, but a CA-certified Form 15CB and Form 15CA per transfer. The parents-funding-education case, though, is squarely LRS: money your family in India sends you abroad attracts the rates above.
Planning the threshold
The ₹10 lakh threshold is per PAN, per financial year, across purposes and banks. Two practical consequences: splitting a large remittance across parents (separate PANs) doubles the TCS-free amount, and timing a transfer across 31 March restarts the aggregate. For loan-funded education, carry the loan sanction letter to the bank — the nil rate applies only when the remittance is out of a financial-institution education loan.
This estimator is general information, not tax advice. Speak with the Cross-Border Tax practice for remittance planning, 15CA/15CB certification and refunds of excess TCS.
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