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 .

Hope your team is safe and well. It's wonderful that you all are providing not only news but beneficial interface to the Rediff audience with experts from different facets of life. I have some queries for Mr Anil. 1. I understand that any remittance, including tuition fees payments, to foreign countries from India should be within Rs 7 lakh and once it crosses this limit, then the excess amount will be taxed at 5 per cent as TCS. Am I right? 2. Also, I understand if the same tuition fee is paid from a student loan taken, then it will be taxed at 0.5 per cent as TCS. Am I right? 3. Finally, can each earning and income tax paying parent pay half of the international university fees for their child from their individual accounts, so that both stay within Rs 7 lakhs limit of foreign remittance allowed tax free? Hope you can guide us and help. This will be really useful for us to plan. Thank you in advance for your help.

Hello Tejas, My childr is currenly studying in the US. I have made two remittances overseas, for her tution and maintenance fee, during the finacial year 2022-23. A certain percentage of the amount has been deducted as tax, by the bank. The bank has also issued a certificate for this deduction. This I think is refundable under the current RBI remittance rule. How can I seek a refund of this amount from the income tax department. Thank you

(1) I want to pay the university fees of my grand daughter in a US university (Duke University, North Carolina). How can I do it through say SBI. I understand grand parents are not entitled. I such case how can I transfer the fees and what are the tax implications? (2) How much of INR I can give as a gift to my US based daughter through SBI without any tax liability and with tax liability?