*Please note that applicable TCS varies with the purpose of your Forex purchase and certain other factors. For more details click here
Online TCS Calculator
TCS Calculator for Forex
Use our online TCS calculator to find out how much TCS you will need to pay on your next Forex purchase
Starting October 1, 2023, TCS on forex transactions under LRS increased from 5% to 20% for amounts exceeding ₹7 lakh, except for education and medical expenses. In the Union Budget 2025, the threshold has now been raised from 7 lakh to ₹10 lakh. Hence, forex transactions of less than Rs 10 lakh in a financial year are not subject to any Tax Collected at Source (TCS) from April 2025.
| Type of Transaction |
Previous TCS Rate |
New TCS Rate (proposed in Union Budget 2025) |
|---|---|---|
|
Purchase of forex (Currency Notes & Forex Card) |
20% (only for spends over Rs. 7 lakhs in the financial year) | 20% (only for spends over Rs. 10 lakhs in the financial year) |
| Purchase of Forex for Education and Medical Visits | 5% (only for spends over Rs. 7 lakhs in the financial year) | 5% (only for spends over Rs. 10 lakhs in the financial year) |
| Outward Remittances (except for education & medical purposes) | 20% (only for forex spends over Rs. 7 lakhs in the financial year) | 20% (only for spends over Rs. 10 lakhs in the financial year) |
| Outward remittances for education/medical purposes | 5% (only for forex spends over Rs. 7 lakhs in the financial year) |
5% (only for forex spends over Rs. 10 lakhs in the financial year) |
| Outward remittances for education (with education loan) | 0.5% (only for forex spends over Rs. 7 lakhs in the financial year) | 0% (no TCS is applicable) |
For more details about New Tax Collected at Source (TCS) slabs, click on the link below:
Share the receipt with your employer to adjust TCS in your salary
Get a clear understanding of what you will be paying as TCS
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