Tax Collected at Source (TCS) is a tax regulation launched by the Government of India on 1 October 2020 for remittances under the Liberalised Remittance Scheme (LRS). While the original regulation stipulated a 5.0% tax on payments exceeding ₹7 lakh within India’s financial year (April to March), from 1 April 2025 the government has introduced exemptions and revised rates.
No TCS will be applied if the payment is financed through an education loan from a recognized institution under Section 80E of the Income Tax Act. Additionally, the annual TCS-exempt remittance limit has been increased to ₹10 lakh (1,000,000 INR; approximately 11,700 USD) for self-funded remittances, and remittances for education and medical purposes up to ₹10 lakh are fully exempt, whether self-funded or loan-financed. For self-funded education remittances exceeding ₹10 lakh, 5% TCS will apply, while other LRS transactions exceeding ₹10 lakh will incur 20% TCS.
TCS（源泉所得税）納税義務の有無の判断には、支払者の PAN（インド納税者番号）が使用されます。対象となる支払いについては、フライワイヤーが貴校への支払額に課されるTCS（源泉所得税）を徴収し、フライワイヤーの提携銀行がインドの税務当局にその資金を送金します。
四半期ごとのTCS（源泉所得税）証明書は、フライワイヤーの提携銀行によって支払者のEメールアドレスに宛てて発行されます。納付証明書は、年次納税申告時に源泉納税額を申告するために使用できます。