TCS COLLECTION ON FOREIGN EDUCATION STUDIES REMITTANCE

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I AM AN INDIVIDUAL.I HAVE REMITTED FOREIGN EDUCATION REMITTANCE THROUGH HDFC BANK LTD FOR MY SON OVERSEAS (SINGAPORE)STUDIES FEES.I HAVE PAID Rs.456657/ON 28-09-2022.THEY HAVE NO DEDUCTIONS IN MY PAYMENT MADE BEFORE.BUT NOW I REMITTED Rs.404797/ON 27-01-2023 NOW THEY COLLECTED @ 5% TCS UNDER SECTION 206C(1G)ON THE SAID AMOUNT IS Rs.20240/.MY QUERY IS MAY I DEDUCT THIS AMOUNT IN MY ADVANCE TAX PAYMENT IN MARCH 2023.
Replies (4)

Yes, you can claim this as tax credit in your income tax return.

 

Regards,

Manoj

Yes you can claim TDS in your return.
Kindly in which section i claim this TCS Amount and there is any limit for this deduction...
Sec 206 and there is no limit on claiming for deduction


CCI Pro

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