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Cost of housing to shoot as import levy shrinks cement production, consumption

Going abroad for studies? Spends over Rs 7 lakh could attract TCS, but education loans eligible for concessions

Education loans taken to fund overseas studies are subject to a lower TCS of 0.5 percent, and only if the amount exceeds Rs 7 lakh. However, in the case the money is sent abroad through other sources, TCS of 5 percent will be applicable if the remitted amount exceeds Rs 7 lakh. Also, if parents send money to their children studying abroad for purposes other than education, the amount will attract TCS at a higher rate.

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