TCS ON AMOUNT ON FOREIGN TRIP

This query is : Resolved

atul sinha (Querist)
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12 December 2023 DEAR SIR
I DEPOSITED 380000/ AS BOOKING AMOUNT FOR US TOUR IN FINANCIAL YEAR 19-20 TO TOUR OPERATOR.BUT I UTILISED THAT MONEY IN MAY 2023 AND COMPLETED MY TOUR.
NOW I AM BOOKING FOR CANADA TOUR . AND TOUR OPERATOR IS ASKING ME TO SUBMIT TCS FORM . WILL THE AMOUNT OF 380000/WHICH I DEPOSITED IN FINANCIAL YEAR 19-20 BUT UTILISED MONEY IN MAY2023,WILL BE ADDED IN THIS TCS FORM?

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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15 January 2024 I think TCS impact will be from the time of booking and not deposit of money. When you book, offline or online, overseas tour packages of more than Rs 7 lakh in a financial year, you have to pay TCS at 20% from October 1, 2023. If the foreign tour packages cost up to Rs 7 lakh, TCS will be levied at 5%.