TCS Charges on Niyo Global Account

Partnership Banks
1

Hello all,

I have paid my University Fees from my account, and therefore exhausted the ₹7 lakh limit RBI has specified.

So does that mean, that the Niyo Global card issued for my account will be charged 5% for every transaction I now make abroad?

2

Hey @Aditya_Prakash

A warm welcome to our Niyo community :innocent:

TCS at the rate of 5% shall be collected on foreign remittance under LRS exceeding INR 7 Lakh during the financial year. TCS at the rate of 0.50% shall be collected on foreign remittance under LRS if the amount being remitted is towards education abroad and is out of a loan. If not via a loan, then 5% of TCS will be calculated.

Gracias,
Ranjith M

3

Hey, following up to this similar query, does the niyo automatically charges the 5% tcs if the limit of 7lakh is exceeded on my PAN number?

1 Like
4

Hi, on April 1 , there should be renewal of tcs limit. But on my app it is still showing 0 tcs limit. Can someone explain? I can’t talk on WhatsApp to niyo support because I have different sim card on phone that is not registered with niyo.

5

Hey @NIYOCOMM20260402KF2P ,

Welcome to the Niyo Community! :hugs:

Please allow us some time to review your concern thoroughly. We truly appreciate your patience and will get back to you with an update at the earliest.

Just a quick note to let you know that the Niyo community is more than a place to get help with your queries. You can stay up-to-date with all the latest announcements from Niyo, and chat about anything Niyo or travel-related—whether it’s your Niyo card, Niyo services, or any other travel topics.

Plus, it’s the perfect spot to connect with fellow travelers! You can ask for advice on travel itineraries, visa info, tips and tricks, flight bookings, and so much more.

And don’t forget to explore the Travel with Niyo category for even more travel content!

*We’re always here if you need anything :sparkles:

6

Hey @NIYOCOMM20260402KF2P ,

We tried reaching out to you over the call but were unable to connect. We would like to inform you that, due to financial year transition, there may be a temporary latency in the TCS limit update. We request you to kindly wait a few days to get the updated TCS limit, as banks usually take some time to settle the transactions and complete the process. In the case of a credit card, no TCS is applied on credit card transactions.

We hope we were able to address your query. If you need any further assistance feel free to write back or you can also reach out to us via 24/7 live in-app chat support or email at " global@goniyo.com ". We are always here to help.