Regarding claim of TCS on Foreign Tour Package
3 months ago
I have a trip planned for next FY 2024-25 in August 2024. My travel agent is charging me 5% TCS. I intend to pay the total amount of my tour in March 2024 i.e. in the current FY 2023-24. Will I be able to claim TCS refund while filing my ITR for the current FY in July 2024 or wait till next year?
A.Dear client,
The TCS charge would increase the amount you are paying for the total trip. Under the new regulations, a 5% TCS is applicable to foreign travel.
Please ensure that while filing your ITR, fill out form 26AS and maintain bank transactions with regard to the foreign transaction. The timeline for paying on between 1st April to June, the TCS return should be filed by 15th July. It is advisable to pay during the financial year of the trip as you may be required to prove foreign transactions.
Thank you
The TCS charge would increase the amount you are paying for the total trip. Under the new regulations, a 5% TCS is applicable to foreign travel.
Please ensure that while filing your ITR, fill out form 26AS and maintain bank transactions with regard to the foreign transaction. The timeline for paying on between 1st April to June, the TCS return should be filed by 15th July. It is advisable to pay during the financial year of the trip as you may be required to prove foreign transactions.
Thank you
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