# Niyo Global 5% TCS per transaction **URL:** \ **Category:** Help\ **Created:** [July 10, 2022, 10:34am UTC](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457 "2022-07-10T10:34:17Z")\ **Posts on this page:** 10\ **Page:** 1
**Author:** ![Eric\_Fernandes](https://sea1.discourse-cdn.com/flex021/user_avatar/community.goniyo.com/eric_fernandes/32/19978_2.png) [@Eric\_Fernandes](https://community.goniyo.com/u/Eric_Fernandes)\ **Post date:** [July 10, 2022, 10:34am UTC](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457/1 "2022-07-10T10:34:17Z")
Niyo Global cards either from SBM or DCB, claim to be zero forex markup fees Is there **per transaction flat 5% TCS charge** , which will be refunded only if you have spent less than Rs 7 Lakh on your foreign exchange transaction in that financial year? ---
**Author:** ![Manisha\_Radhakrishna](https://sea1.discourse-cdn.com/flex021/user_avatar/community.goniyo.com/manisha_radhakrishna/32/16431_2.png) [@Manisha\_Radhakrishna](https://community.goniyo.com/u/Manisha_Radhakrishna)\ **Post date:** [July 10, 2022, 11:01am UTC](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457/2 "2022-07-10T11:01:57Z")
Hey @Eric_Fernandes, Tax Collected at Source (TCS) on LRS transactions is a regulatory requirement amended under section 206C of Finance Act 2020. Kindly check out the link here: [What is TCS? How does it work for the Liberalised Remittance Scheme?](https://community.goniyo.com/t/what-is-tcs-how-does-it-work-for-the-liberalised-remittance-scheme/10097) for better understanding. ---
**Author:** ![Eric\_Fernandes](https://sea1.discourse-cdn.com/flex021/user_avatar/community.goniyo.com/eric_fernandes/32/19978_2.png) [@Eric\_Fernandes](https://community.goniyo.com/u/Eric_Fernandes)\ **Post date:** [July 10, 2022, 11:27am UTC](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457/3 "2022-07-10T11:27:02Z")
That did not help me… its not written in an easily understandable language unfortunately. Within a given financial year - All transactions on Niyo global less than 7 Lakhs - No 5% TCS charge Any transaction on Niyo global \> 7 Lakhs - each transaction will have 5% TCS Looking for a Yes/No ---
**Author:** ![Manisha\_Radhakrishna](https://sea1.discourse-cdn.com/flex021/user_avatar/community.goniyo.com/manisha_radhakrishna/32/16431_2.png) [@Manisha\_Radhakrishna](https://community.goniyo.com/u/Manisha_Radhakrishna)\ **Post date:** [July 10, 2022, 11:50am UTC](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457/4 "2022-07-10T11:50:59Z")
Hi @Eric_Fernandes, Yes, In a given financial year, when your international transactions exceed ₹7 lakhs, a fee of 5% is charged for the incremental amount exceeding ₹7 lakhs. 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. For any further clarification kindly write to us at [global@goniyo.com](mailto:global@goniyo.com) our team will be happy to assist you better. ---
**Author:** ![Sanjay24](https://sea1.discourse-cdn.com/flex021/user_avatar/community.goniyo.com/sanjay24/32/17005_2.png) [@Sanjay24](https://community.goniyo.com/u/Sanjay24)\ **Post date:** [July 11, 2022, 3:04am UTC](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457/5 "2022-07-11T03:04:57Z")
What happens if I don’t have enough funds to deduct TDS? ---
**Author:** ![Deepak](https://sea1.discourse-cdn.com/flex021/user_avatar/community.goniyo.com/deepak/32/3496_2.png) [@Deepak](https://community.goniyo.com/u/Deepak)\ **Post date:** [July 11, 2022, 11:44am UTC](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457/6 "2022-07-11T11:44:55Z")
Hey @Sanjay24! Welcome to Niyo Community! For Niyo DCB, if you do not have an additional 5% balance in the account, the transaction will not be processed. Similarly, for Niyo SBM, the amount gets debited as soon as you add for your next transaction. Regards, ---
**Author:** ![vjone](https://avatars.discourse-cdn.com/v4/letter/v/838e76/32.png) [@vjone](https://community.goniyo.com/u/vjone)\ **Post date:** [July 18, 2022, 11:47am UTC](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457/7 "2022-07-18T11:47:11Z")
I think TCS will only be deducted on transactions that exceed Rs 7 lakhs in one FY. If you have just spent Rs 50k TCS isn’t going to be charged on any of those transactions. Am I right in my understanding? ---
**Author:** ![Manisha\_Radhakrishna](https://sea1.discourse-cdn.com/flex021/user_avatar/community.goniyo.com/manisha_radhakrishna/32/16431_2.png) [@Manisha\_Radhakrishna](https://community.goniyo.com/u/Manisha_Radhakrishna)\ **Post date:** [July 23, 2022, 7:19am UTC](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457/8 "2022-07-23T07:19:51Z")
Hi @vjone, Yes, your right! ---
**Author:** ![VIRAL\_BORSALLIWALA](https://sea1.discourse-cdn.com/flex021/user_avatar/community.goniyo.com/viral_borsalliwala/32/29050_2.png) [@VIRAL\_BORSALLIWALA](https://community.goniyo.com/u/VIRAL_BORSALLIWALA)\ **Post date:** [December 26, 2022, 9:28am UTC](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457/9 "2022-12-26T09:28:44Z")
Continuing the discussion from [Niyo Global 5% TCS per transaction](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457/4): What if i do multiple international transactions on a day but amount haven’t exceeded 7 lakhs. In that condition would i have to pay the 5% tcs on every transaction or would i have excempted from the deduction as it not exceed the 7 lakh limit? ---
**Author:** ![Deepak](https://sea1.discourse-cdn.com/flex021/user_avatar/community.goniyo.com/deepak/32/3496_2.png) [@Deepak](https://community.goniyo.com/u/Deepak)\ **Post date:** [December 27, 2022, 1:51am UTC](https://community.goniyo.com/t/niyo-global-5-tcs-per-transaction/12457/10 "2022-12-27T01:51:07Z")
Hey @VIRAL_BORSALLIWALA! Welcome to Niyo Community! If you are holding a Niyo Global SBM account, you’ll be charged with TCS only after you exceed the spending limit of 7 lakhs. If not, there will not be any TCS charges.