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Anil

Anil Rego  |388 Answers  |Ask -

Financial Planner - Answered on Feb 10, 2023

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
Binda Question by Binda on Feb 02, 2023Hindi
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Hi , I am 62 yrs old and paying for tuition fee to University in USA and for payment transfer thru bank TCS amount is also be charged . How to avail rebate of education fee and TCS amount . What is the limit for education fee to avail the rebate . what about money being transferred for the living expenses and again TCS being charged by Bank . Pl advise as application to claim the rebate .

Ans: TCS for educational purposes is 0.5% (if funded through an educational loan from a financial institution) or 5% (without loan) of the amount exceeding Rs 7Lakh.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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