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Maayank (Manager)     29 July 2021

TCS deducted on Foreign Remittance - ITR Query

TCS has been deducted for remittance above 10 Lakh which I did last year to the UK. That was for some overseas trading. I took a personal loan to spend that money so not sure if I can claim back the TCS. Can I show that TCS as the tax paid already in my IT Return and claim a refund? 

The form 26AS  mentions the TCS under category - 206 CQ - Collection at source on remittance under LRS for purpose other than for purchase of overseas tour package or for educational loan taken from financial institution

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