Arey, TCS on foreign education remittances under LRS is 5% above ₹7 lakhs for the financial year, and you can reclaim it by filing your ITR and claiming it as a credit—provided your total income is below the taxable slab, bhai. But the limit? Officially, it's the overall LRS limit of $250,000, but for a parent like me, *my* real annual limit is whatever is left after EMI and rent. I know this because I just remitted from my fixed deposit for my daughter’s fees, and calculating that TCS cut while worrying about my own headphone EMI… it stings.
#money#career
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