[Solved]Education Loan in India to USA?

[KingAAR]

I have education loan in India , which I have to use in the States .
but there is this new TCS rule.
so some % of my loan amount is gone in taxes which is huge?
Is there any way???
or is my knowledge wrong regarding this?

 

[Tejo]

I have education loan in India , which I have to use in the States .
but there is this new TCS rule.
so some % of my loan amount is gone in taxes which is huge?
Is there any way???
or is my knowledge wrong regarding this?

For foreign remittances below Rs 7 lakh intended for educational purposes, no TCS will be levied. However, if the remittances made for overseas education through an education loan paid abroad exceed the threshold limit of Rs 7 lakh, a TCS of 0.5% will be applicable.

source : caclubindia.com

 

[KingAAR]

so if i pay using some debit card like niyoX which has zero forex fee on college website, will there be tcs if amount exceeds 7L?

For foreign remittances below Rs 7 lakh intended for educational purposes, no TCS will be levied. However, if the remittances made for overseas education through an education loan paid abroad exceed the threshold limit of Rs 7 lakh, a TCS of 0.5% will be applicable.

source : caclubindia.com

 

[SSV]

so if i pay using some debit card like niyoX which has zero forex fee on college website, will there be tcs if amount exceeds 7L?

Yes,