can Tax Collected at Source at the time of Foreign remittance be deducted from my tax liability. For example, if my tax liability in a financial year is , Rs . 287000 and TCS in that financial year is Rs 96000. can I have tax liability reduced by 96000? Please clarify. Thanks a lot

I am an NRI for last two years. If I plan to come to India in Jun 2023, does my foreign income (Dubai) from Apr to Jun 23 become taxable for FY 24 in India? I am salaried and there is no business or rental income abroad

Hello Tejas, My childr is currenly studying in the US. I have made two remittances overseas, for her tution and maintenance fee, during the finacial year 2022-23. A certain percentage of the amount has been deducted as tax, by the bank. The bank has also issued a certificate for this deduction. This I think is refundable under the current RBI remittance rule. How can I seek a refund of this amount from the income tax department. Thank you

A friend of mine in his mid 80s, sold off his house and other investments in 2021 and has paid capital gains tax on the proceeds with proper filing of IT returns. The sum of Rs 4 crore he has parked in FDs and given his age moved to assisted living senior accommodation. His only son is overseas, an NRI for sevaral years and the son has no assets or interests/income in India. My friend wishes to transfer the proceeds of his house sale to his son and keep just sufficient funds for his limited expenses and sunset years. As per the Forex LRS, he can transfer 1.5 crores (up to 250K USD), but this will attract a TCS of 20% now. Is this a tax on foreign remittance? Or, can he file returns in June and claim the TCS back since the capital gains tax has already been paid on the sale of house two years back? It is not clear if the FM has introduced a new tax on Foreign Remittance or it is just a TCS that can be claimed as tax on income/capital gains was already paid to Govt. Please advise.