Can we claim credit for the 20% TCS?

Can we claim credit for the 20% TCS?

Yes! The tax paid should not be confused as an additional cost or tax on the fund transfer. The TCS paid can be claimed as a credit against tax payable when filing income tax returns. If the TCS is higher than your tax payable, you will receive a refund. 

Disclaimer: This article is for informational purposes only. None of the contents of this article should be treated as advice.