TCS Tax Collector is a verified tax & gst compliance calculation tool on Calcify. Calculate Tax Collected at Source (TCS) on LRS foreign remittances (Sec 206C(1G)), luxury cars, and scrap. All calculations execute locally in your browser with multi-currency support, visual breakdowns, and white-label client exports.
Total Outflow Including TCS: ₹12,40,000 (TCS is refundable/adjustable against Income Tax)
Taxable_TCS_Base = Max(0, Transaction_Value - Exempt_Threshold); TCS = Taxable_Base × TCS_Rate%
Example Inputs: Annual Transaction / LRS Remittance Amount: ₹1200000 · Exempt Threshold (₹10L for LRS / ₹0 for Motor Car >10L): ₹1000000 · Applicable TCS Rate (%): 20 %
Example Output: TCS Collected at Source: ₹40,000 (Total Outflow Including TCS: ₹12,40,000 (TCS is refundable/adjustable against Income Tax))
The TCS Tax Collector on Calcify applies the verified mathematical formula: Taxable_TCS_Base = Max(0, Transaction_Value - Exempt_Threshold); TCS = Taxable_Base × TCS_Rate%. Every input is validated in real time with multi-currency formatting to ensure zero rounding or division errors.
Under Section 206C(1G), foreign remittances under LRS above the annual threshold attract 20% TCS (5% for medical/education; 0% for education funded by Sec 80E loan).
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