Adani Enterp. 2451.15↑22.00(0.91%)
Adani Ports 734.95↓-1.45(-0.20%)
Apollo Hospitals 4926.70↓0.05(0.00%)
Asian Paints 3180.55↓-31.70(-0.99%)
Axis Bank 974.75↑12.65(1.31%)
B P C L 359.45↓-1.65(-0.46%)
Bajaj Auto 4743.40↓-57.25(-1.19%)
Bajaj Finance 7037.15↑27.05(0.39%)
Bajaj Finserv 1466.50↓-0.90(-0.06%)
Bharti Airtel 833.50↓-2.50(-0.30%)
Britannia Inds. 4878.75↑3.70(0.08%)
Cipla 969.25↑3.85(0.40%)
Coal India 227.65↓-0.45(-0.20%)
Divi's Lab. 3428.75↓-70.95(-2.03%)
Dr Reddy's Labs 4666.80↑17.40(0.37%)
Eicher Motors 3581.30↓-76.10(-2.08%)
Grasim Inds 1715.75↑3.80(0.22%)
H D F C 2652.90↓-0.90(-0.03%)
HCL Technologies 1109.75↓-17.00(-1.51%)
HDFC Bank 1610.60↑1.90(0.12%)
HDFC Life Insur. 581.70↓-12.20(-2.05%)
Hero Motocorp 2899.30↓-65.50(-2.21%)
Hind. Unilever 2636.20↓-43.70(-1.63%)
Hindalco Inds. 415.05↓-3.20(-0.77%)
ICICI Bank 938.05↑0.15(0.02%)
IndusInd Bank 1331.05↑27.20(2.09%)
Infosys 1265.95↓-16.85(-1.31%)
ITC 438.45↓-4.45(-1.00%)
JSW Steel 748.50↓-0.30(-0.04%)
Kotak Mah. Bank 1872.00↓-14.50(-0.77%)
Larsen & Toubro 2363.00↑22.70(0.97%)
M & M 1370.65↓-10.40(-0.75%)
Maruti Suzuki 9627.80↓-30.80(-0.32%)
Nestle India 22073.45↓-75.45(-0.34%)
NTPC 182.80↑0.75(0.41%)
O N G C 154.25↓-1.85(-1.19%)
Power Grid Corpn 244.90↑3.25(1.34%)
Reliance Industr 2481.95↓-17.70(-0.71%)
SBI Life Insuran 1232.40↓-6.50(-0.52%)
St Bk of India 578.70↓-9.80(-1.67%)
Sun Pharma.Inds. 983.95↓-3.05(-0.31%)
Tata Consumer 801.00↓-6.10(-0.76%)
Tata Motors 562.30↑2.60(0.46%)
Tata Steel 108.90↓-2.25(-2.02%)
TCS 3209.30↓-27.15(-0.84%)
Tech Mahindra 1063.05↓-8.25(-0.77%)
Titan Company 2876.25↓-0.75(-0.03%)
UltraTech Cem. 8153.25↑53.10(0.66%)
UPL 680.25↓-9.80(-1.42%)
Wipro 397.30↓-2.25(-0.56%)

Navigating 20% TCS: Smart tips for your overseas holiday this summer

Reduce trip duration if necessary, use prepaid forex card to nullify currency fluctuation, buy adequate insurance

Sarbajeet K Sen

Premium

Illustration: Binay Sinha

4 min read Last Updated : Jun 09 2023 | 5:46 PM IST

Those planning overseas travel got a rude shock when the government announced a 20 per cent tax collection at source (TCS) from July 1, 2023, on foreign travel related expenditures (on credit card related expenses, TCS kicks in on expenditure above Rs. 7 lakh). This implies an escalation in your budget for an overseas holiday.

“The imposition of TCS has become a crucial financial aspect to consider when organising an overseas trip. In the short run, this step will significantly impact plans as the total outlay will increase considerably,” says Rikant Pittie, co-founder, EaseMyTrip.

Many travellers may have to reconfigure their holiday plans. “Those who were earlier planning long-haul travels may select closer destinations. Likewise, short-haul international travellers may opt for domestic travel instead,” says Vishal Dhawan, founder and chief executive officer (CEO), Plan Ahead Wealth Advisors.