New TCS from 1st October 2023 for various foreign remittances:
However, if the remittance for education exceeds Rs 7 lakhs, a nominal TCS rate of 0.5% comes into effect. It’s important to note that if the remittance for education is not funded by a loan, a slightly higher TCS rate of 5% is charged. This ensures that larger educational expenses exceeding Rs 7 lakhs are …
New TCS from 1st October 2023 for various foreign remittances: Read More »