TCS on travel expesnes
This query is : Resolved
Quick Summary
binu sukumaran
(Querist)
08 July 2025
sir.
While preparing book of accounts for audit , it found that there is deduct of TCS (5%) On travel expenses payment . our owners went to aboard for business purpose . Same amount is reflected in our company 26 AS.
Can we deduct this amount while making income tax payment (ITR) .
Please advise
With regards
Binu
While preparing book of accounts for audit , it found that there is deduct of TCS (5%) On travel expenses payment . our owners went to aboard for business purpose . Same amount is reflected in our company 26 AS.
Can we deduct this amount while making income tax payment (ITR) .
Please advise
With regards
Binu
Dhirajlal Rambhia
(Expert)
08 July 2025
Yes, eligible.
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binu sukumaran
(Querist)
08 July 2025
sir
Thanks for the replay .
Sir Let's me know TCS is applicable in traveling exp and it is 5%. For just for my knowledge
Thanks for the replay .
Sir Let's me know TCS is applicable in traveling exp and it is 5%. For just for my knowledge
Message likes :
1 times
Dhirajlal Rambhia
(Expert)
08 July 2025
As of the current date the Tax Collected at Source (TCS) rates applicable to foreign travel from India, (Finance Act 2025):
Overseas Tour Packages:
Up to ₹10 lakh: A TCS rate of 5% is applicable.
Above ₹10 lakh: A TCS rate of 20% is applicable on the entire amount.
Overseas Tour Packages:
Up to ₹10 lakh: A TCS rate of 5% is applicable.
Above ₹10 lakh: A TCS rate of 20% is applicable on the entire amount.
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Dhirajlal Rambhia
(Expert)
26 September 2025
Good luck...
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