The Economic Times

Saving of Rs 1.2 lakh instantly when sending this amount abroad, but should you wait till April 1 for this?

Good news for Indian families! The Union Budget 2026 significantly reduces Tax Collected at Source (TCS) on overseas education and medical remittances from 5% to 2% for amounts exceeding Rs 10 lakh annually. This change, effective April 1, 2026, offers substantial upfront cash flow relief, allowing families to save up to Rs 1.