Paying fees to college

While sending tuition fees to Canadian college (more than 7 lakh rs) have I pay an additional 5% interest?

Hi @cvmptl07 ,

Welcome back to the Niyo Community! We are happy to see you again :slight_smile:

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 day for the cumulative international transactions.

Please stay noted the limits for this card;
₹7.5 Lakh per transaction for POS
₹7.5 Lakh per transaction for ECOM
₹1 Lakh per transaction for ATM

Cheers!
Bansari

1 Like

thank you for such nice feedback but I have still a doubt that what is tcs and I really don’t understand the meaning of multiple international transactions made in a day because i can do transactions of 7.5 lakh per day as you mention above.

@cvmptl07 ,

(1/2) The limit of 7.5 L is per transaction*

(2/2) For example: If you transact for 10L than 5% TCS would be applied on incremental amount of 3L.
You can have a closure look at TCS here: Understanding TCS on Foreign Remittance - The Financial Express

Do get back to us in case of any further concerns.
Cheers!
Bansari