TCS on Education Loan: Meaning, Benefits and Amendments | GyanDhan
Tax Collection at Source or TCS on education loans makes education loans more rewarding for study-abroad aspirants. No investment can get you a higher return than the one on your education. A smart move for education loans can save you around 4.5% more money than you need to spend for education abroad. Adding to the purely economic reasons to go for an abroad education loan are the TCS on education loan rules introduced by the Government of India in 2020.
This is a companion discussion topic for the original entry at https://www.gyandhan.com/blogs/education-loan/new-tcs-rules-abroad-education-loans