Need to Know about Important Rules and Policy by RBI

Can I pay my university fees in UK from Niyo Global SBM Card? If yes, then What is the full limit (yearly maximum)?
Also, I would like to know if Tax Collected at Source (TCS) rules are applicable in transactions? under the Liberalised Remittance Scheme 2020 (LRS Scheme) in details.
Thanking You.

About LRS- Reserve Bank of India

@nst yes, you’d be able to pay your fee with the card. The yearly TCS limit is 7 lakhs so anything over that would be charged at 5% yearly. So let’s say you pay 20 lakhs as fee in a year, so you’d be paying 5% on 13 lakhs.
Also, TCS is collected at the end of the day at once for that particular day.

There’s no yearly limit but there are transaction limits and that would be 7.5 lakhs per transaction


For students having an education loan, it’s 0.5% beyond 7 lakhs. How does Niyo differente that?