Is the ₹10 lakh TCS threshold per bank or per person?

Per person across all banks for the financial year. Banks rely on your declaration, so remittances through several banks are added together.

Can I gift money to my child studying abroad under LRS?

Yes, as maintenance or gift within USD 250,000. Remittances for education can attract the lower 5% TCS above ₹10 lakh, or nil if funded by an education loan.

Do I need to report foreign investments made under LRS in my ITR?

Yes. Foreign shares, accounts and funds bought through LRS must be reported in Schedule FA each year while you are resident and ordinarily resident.

Can I rely on this calculator's result for filing?

Use it as a planning estimate. The final figure depends on the tax year's rules and your exact documents, so a CA should review it before you file or pay.

Does the calculator store my data?

No. The calculation runs in your browser and nothing you type is saved. If you want a CA to review it, share your documents through our checklist-led process.

International calculator

FEMA Remittance Planner

Resident individuals can remit up to USD 250,000 a financial year abroad under the RBI's Liberalised Remittance Scheme for permitted purposes — investments, gifts, education, travel and maintenance of relatives. Banks collect TCS on remittances above ₹10 lakh a year: 20% for most purposes, 5% for education and medical treatment, and nil for education funded by a loan from a financial institution. TCS is an advance tax you can claim back in your ITR.

LRS limit per person: USD 250,000 a year
TCS threshold: ₹10 lakh a year
TCS above threshold: 20% (most purposes)

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FEMA LRS Remittance Planner

Understand LRS limits and TCS on overseas remittances for Indian residents.

LRS / FEMA

Remittance amount (₹)

USD/INR exchange rate

Purpose of remittance

TCS Rule: TCS @5% on amount above ₹7L

Within LRS limit

Remittance: $11905 | LRS limit: $250,000 per person per FY (₹2,10,00,000 at current rate)

TCS taxable amount

₹3,00,000

TCS (5%)

₹15,000.00

Collected by bank — claimable in ITR.

Total outflow incl. TCS

₹10,15,000.00

TCS collected by the Authorized Dealer (AD bank) is not a final tax — it can be claimed as credit in your income tax return. LRS limit is $250,000 per individual per financial year for all current and capital account transactions combined. PAN is mandatory for LRS transactions above ₹50,000.

TCS rates on LRS remittances (from 1 April 2025)

Purpose	Up to ₹10 lakh a year	Above ₹10 lakh
Education funded by a loan from a financial institution	Nil	Nil
Education (self-funded) and medical treatment	Nil	5%
Overseas tour packages	5%	20%
Investments, gifts, maintenance and other purposes	Nil	20%

What LRS doesn't allow

Margin trading and forex trading on overseas platforms
Lottery, gambling and betting
Remittances to countries flagged by FATF as non-cooperative
Buying foreign currency convertible bonds issued by Indian companies abroad

Getting TCS back

TCS appears in your Form 26AS/AIS and is credited against your total tax when you file. If your tax liability is lower, the excess is refunded. Salaried employees can also ask their employer to account for TCS when deducting TDS.

Worked example: investing in US stocks

1Remittances for investing abroad: ₹16 lakh in the year.
2First ₹10 lakh: nil TCS. Next ₹6 lakh: 20% TCS = ₹1,20,000.

₹1.2 lakh TCS, fully creditable against your income tax for the year.

Official sources

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