05
May
New Delhi, May 5 — The Government of India has officially revised the Tax Collected at Source (TCS) rates for foreign currency transactions under the Liberalised Remittance Scheme (LRS), with new rates coming into force from April 1, 2025. The changes apply to all resident individuals sending money abroad or buying foreign currency for various purposes.As per the updated structure, TCS on education-related remittances using loans from recognised institutions remains exempt. For education and medical treatment expenses not funded through a loan, no TCS will be collected for amounts up to ₹10 lakh. However, beyond this threshold, the rate is…