Tax planning
Claiming TCS credit or refund on foreign remittances in the ITR
- The TCS your bank or tour operator collects is your money, held as tax credit.
- Deadline: Form 122 to employer any time in the year; credit claimed in the return of the year in which TCS was collected
- Done in 2 working days after the TCS certificates and annual tax statement
- Prepared by your Savvy, checked by a CA
- PAN and e-filing login
- Is the TCS in your own annual tax statement
- Download TCS certificates and the annual tax statement
- TCS reconciliation sheet
Claiming TCS credit or refund on…
Form 122 to employer any time in…
- IWhat we need from you6 documents
- DQuestions for you5 questions
- FForms5 steps
- DWhat you getTCS reconciliation sheet
Answer in brief
The TCS your bank or tour operator collects is your money, held as tax credit. We match it with your annual tax statement, get your employer to cut your salary TDS by that amount, and claim the rest as credit or refund in your return.
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How we solve it: 4 steps
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Step 1 of 4 · What we need from you
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- PAN and e-filing login
- TCS certificates from bank or tour operator
- Annual tax statement (Form 26AS or Form 168)
- Remittance advices with dates
- Salary slips and employer contactOptional
- Cancellation proof, if remittance reversedOptional
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Pay and start
₹999
₹999 + ₹179.82 GST = ₹1,178.82
Yearly. Delivered in 2 working days after the TCS certificates and annual tax statement. Due: Form 122 to employer any time in the year; credit claimed in the return of the year in which TCS was collected
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