Tax Collected at Source (TCS) is an income tax collected on international money transfers falling under the Liberalized Remittance Scheme (LRS) given in Section 206C of the Income Tax Act 1961. The LRS is a scheme that allows a resident individual to send money internationally up to USD 250,000 every financial year. TCS came into effect from October 1, 2020. For further details, please refer to the RBI directions here.