Please note following update on TCS spends
TCS is calculated on the total spending value in the Financial Year across all banking channels and products.
Calculation is done at the PAN level, aggregating all interneational spendings linked to the customer’s PAN.
Spendings from all bank accounts linked to the PAN are combined for TCS computation.
TCS applies on the overall spending abroad via LRS, regardless of account or mode used.
Please note that customers are reaching out with the concern that TCS has been deducted even though they have not spent ₹10 lakhs using their SBM debit card. Please ensure we educate them.
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