Use DTAA, claim TCS credits, and plan remittances for education or medical purposes to reduce tax on foreign transfers.
This infographic presents tax-saving strategies for foreign remittances under the Liberalized Remittance Scheme (LRS). TCS applies to remittances above ₹7 lakh, with lower rates for education and medical expenses. Claim DTAA benefits to avoid double taxation, and adjust TCS paid against your tax liability in the ITR. Use the correct remittance category and seek professional advice for optimal tax planning.