Скачать или смотреть Claim TCS refund on car purchases and foreign travel | TCS Refund | Tax collected at source

What is TCS (Tax collected at source)? | Claim TCS refund on car purchase | TCS on luxury goods, foreign travel and overseas remittances | TCS refund process

TCS (Tax Collected at Source) is a tax collected by sellers when they sell certain goods or services worth more than a specified threshold. This tax is then deposited with the Income Tax Department under your PAN. Most commonly it applies to car purchases, luxury goods, foreign travel packages and foreign remittances under the LRS.

However, TCS doesn’t actually part of your tax liability, and you can claim a refund of this amount when you file your ITR.

Chapters:

00:00 Introduction
00:21 What is TCS?
01:25 Difference between TCS and TDS
02:00 Is TCS applicable on foreign remittances?
02:35 What is the TCS rate on foreign tour packages?
03:12 Does TCS apply to international transactions via credit cards?
03:34 How to claim a refund of TCS?
04:18 Closing

Here’s a detailed read on TCS: https://qna.tax/t/claim-refund-of-tcs...

#tcs #tcsrefund #taxcollectedatsource #itrrefund #taxes

👉 Explore Quicko: https://quicko.com

👉 Tax Q&A by Quicko: https://qna.tax
👉 Learn by Quicko: https://learn.quicko.com
👉 Tools by Quicko: https://tools.quicko.com

Our top playlists:
👉 Shorts:    • Quicko Shorts  
👉 Tax QnA:    • Tax Q&A Videos  
👉 Pocket Money:    • Pocket Money  
👉 Get to know Quicko:    • How to Quicko  
👉 Untaxing Taxes:    • Untaxing Taxes  

Follow Quicko on the internet:
👉 Instagram:   / quicko_official  
👉 Twitter:   / quicko_official  
👉 LinkedIn:   / quicko-official