TCS Provision in Income Tax Act

The TCS provision 206C 1G has its naces from the liberalized remittance scheme of RBI. If that 7 lakh limit per financial year is not crossed then TCS provisions will not kick in themselves but if the 7 lakh limit gets breached then credit card issuing bank will be diagonal for collecting such TCS on behalf of foreign two operators or international airframes. The rigging point will be the conversion from Indian currency to foreign currency and banks are other thrice dealers for doing that right.