FAQs > Taxation

Is there a tax on remittances from India?

No, there is no tax applicable to remittances from India. However, per the recent changes in regulation, a 5% Tax Collection at Source (TCS) will be levied on any remittances over ₹7 lakh per individual per year. This will be collected by the agency through which you remit the money (for example, your bank). The entire 5% TCS will be available as credit for your next income tax return.