Is TCS applicable when I invest in DSP Global Equity Fund (GIFT city)?

Is TCS applicable when I invest in DSP Global Equity Fund (GIFT city)?

Only resident Indian individuals pay 20% TCS on LRS remittances above INR 10 lakh in a financial year. Banks collect and issue Form 27D. The TCS can be claimed back as refund during ITR filing or adjusted against any other outstanding tax liability.