TCS
Tax Collection at Source (TCS) at the rate of 0% will be levied under section 206C(1G)(b) of the Income Tax Act on outbound tour services. The TCS collected will be reflected in the 26AS of the passenger in whose name invoice is raised (Lead passenger) for claiming Income Tax credit, irrespective of the person from whom payment is received. Hence the name of the person on the invoice (Lead Passenger) should be reconfirmed at the time of booking the tour package.
In the event of cancellation of services and refund of amount, Tax collected at source under section 206C(1G)(b) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the passenger in whose name invoice is raised for claiming Income Tax credit.
In case PAN is not provided TCS@10% will be applicable. However as per RBI guidelines, collection of PAN card details has been mandatory for all international bookings. So, please share your PAN card details in next steps to proceed with the booking
LRS / PAN
The RBI mandates collection of PAN details for all transactions made under Liberalized Remittance Scheme (LRS)which include any international booking made on the Website or through Sales Channels. The User warrants and confirms that PAN details of the User/traveler will be shared by the User on or before the cut-off date prescribed by Flamingo Transworld Pvt Ltd either at the time of booking or after the booking is made. In case the traveler is a minor, Flamingo Transworld Pvt Ltd will require PAN details of the parent/guardian of such minor. The User further confirms that non-compliance of this requirement may result in cancellation of the booking.
The User warrants and confirms that the total amount of foreign exchange purchased or remitted during the current financial year, through all sources in India (including the current transaction) falls within the permissible limit prescribed by the RBI. The User further confirms that foreign exchange, if any, purchased by User for the purpose of international travel under the current booking will be utilized for the purpose indicated above.
The User authorizes Flamingo Transworld Pvt Ltd to share User/traveler data with third party(ies) for collecting or verifying PAN details of User/traveler.