TCS 206CQ -Tax collected

babugr (dgm) (509 Points)

20 June 2024  

My son is salaried and has a TDS by employer about Rs. 7+ lacs, also bank TDS on FD Interest 4+ lacs. Besides the above he travelled 2-3 times outside India (Malaysia, Thailand) incurred a TCS of 3+ lacs as outward foreign remittance/purchase of currency. Remittance u/s LRS Section 206C(1G(a)). Also he paid advance tax for 2nd, 3rd and 4th quarters. Kindly advise whether the TCS can be claimed like TDS while filing ITR, It shows a huge refund of 4.8 lacs, is it ok to claim TCS. The TCS reflects in 26-AS and AIS. thanks