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5% TCS on purchase of Exchange on Tour package
Under 206C , there is TCS of 5% on purchase value of exchange by the person on a tour package. TCS will be collected by authorised exchange dealer
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Iam not sure this 5 % TCS will apply for "Foreign Education remittance ".
my kid is studying Masters in Germany.
This is applicable from April 1st 2020?
we have already sent 1st year total expenses upfront last year(2019) .
Apart from that,usually me or my wife will add few100's Euro in to the Thomas cook prepaid travel card once a month.(which can be withdrawn as Euro cash in ATM with out much charge)
But come May2020 we need to send a single large say 9000 euro remittance via bank .
but before that this 5% TCS matter will be clear I hope..
There is no TCS on Foreign Education Remittance. it's only for tour package exchange conversion
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