Rate of TCS before and after 01st July 2023
TCS (Tax Collected at Source) is the income tax collected from you when you send money abroad.
 Nature | Up to 30th June 2023 | w. e. f. 1st July 2023 | ||
| Threshold | Rate % | Threshold | Rate % | |
| Remittance for the purpose of any education | ||||
| If the amount being remitted out is a loan obtained from any financial institution as defined in section 80E | 7 lakhs | 0.5% | 7 lakhs | 0.5% |
| Remittance is not out of loan from a financial institution | 7 lakhs | 5% | 7 lakhs | 5% |
| Remittance for the purpose of any medical Treatment | ||||
| Remittance is for Medical Treatment | 7 lakhs | 5% | 7 lakhs | 5% |
| Sale of Overseas tour package | ||||
| Remittance is for the purchase of a tour package | Nil | 5% | Nil | 20% |
| Sale of Overseas tour package | ||||
| Remittance is for any other purpose | 7 Lakhs | 5% | Nil | 20% |
If you want to obtain Form 15CB / file Form 15CA call +91 98494 46110 / [email protected]