Effective 1 April 2025, the TCS threshold on LRS remittances and overseas tour packages was raised from ₹7 lakh to ₹10 lakh per financial year. TCS on education and medical remittances above the threshold is reduced to 2%, and there is no TCS on education remittances funded by a loan from a recognised institution.
Members handling travel and remittances should update their TCS workflow. Full detail in the TCS guide.