LRS, limits and TCS explained

Last updated: 28 October 2026

LRS limit: a resident individual can send or spend up to USD 2,50,000 per financial year for permitted purposes — travel, education, medical treatment, gifts, maintenance of relatives and investments.

Currency notes: up to USD 3,000 equivalent in cash per trip. Use a forex card for the rest.

TCS (from 1 April 2026, section 394 of the Income-tax Act, 2025): nothing up to ₹10 lakh of LRS in a financial year. Above that: nil for education paid from an eligible education loan, 2% for education or medical treatment from own funds, and 20% for other purposes. As a money changer we sell forex for travel, so currency notes and travel cards fall under "other purposes" above the threshold. TCS is not a cost — it is credited to your PAN and adjusted against your income tax. Our calculator shows TCS before you pay.

Company-sponsored business travel paid by the company is not an individual's LRS drawal, so TCS does not apply to it.

GST: charged on the conversion value on a slab basis, not on the full amount. For example, a ₹1 lakh purchase attracts ₹180 GST.