US Investing
TCS on Foreign Remittance
Tax collected at source on large LRS transfers.
Banks collect 20% TCS on LRS remittances above ₹10 lakh per year for investments. It is not an extra tax — you adjust it against your income-tax liability — but it locks up cash flow until filing.
Example
Remitting ₹15 lakh for US stocks: 20% of ₹5 lakh = ₹1 lakh TCS collected.