Niyo card settlement and 5% TCS on every transaction

Can some one help me understand how transaction will happen in the below scenario:
I use the card to pay a merchant bill in foreign country will the settlement of bill in foreign currency happens immediately at the time of payment or there is a delay and rate at which it gets settled is of the time of transaction or a later time when it gets settled.
5% TCS is supposed to be deducted only if sum total transaction in a FY exceeds 7 lakh but it seems it gets deducted with each transaction.

Hello @Neerav_Chaudhary ! Welcome to Niyo Community :blush:

  1. International transactions with merchants usually get settled in 10 days not instantly. For example, if you make a transaction with any international merchant and if there is a difference in foreign currencies on different dates, the difference amount will be either debited or credited to your account.

  2. TCS of 5% is applicable when your international transactions exceed ₹7 lakh in a given financial year. For multiple international transactions made in a day, TCS is deducted only once a day at the end of the day for the cumulative international transactions. What is TCS? How does it work for the Liberalised Remittance Scheme? - WB