Mathematics · Financial Aptitude - TCS Calculation under LRS

A high net worth resident individual in India, Mr. Khanna, has planned a series of foreign exchange transactions under the Liberalised Remittance Scheme (LRS) for the financial year 2025–26. On April 15, 2025, he remitted $40,000 for his daughter's medical emergency in Germany. On June 10, 2025, he utilized $10,000 through his international debit card for personal vacation expenses in Paris. On September 20, 2025, he remitted $100,000 to invest in unlisted equity shares of a startup in the USA. Finally, on January 5, 2026, he wishes to remit an additional $120,000 to purchase a residential property in Dubai. Assuming a constant exchange rate of ₹85 per US Dollar and given that the general LRS TCS rate is 20% on the aggregate amount exceeding the basic exemption threshold of ₹10 lakh, calculate the total Tax Collected at Source (TCS) the bank must collect specifically for the final property transaction.