Current Affairs · Union Budget Direct Tax Proposals
The Union Budget 2026–27 proposed specific numerical adjustments to the Tax Collected at Source (TCS) regime to simplify compliance and reduce the financial burden on individuals. Which of the following combinations correctly reflects the proposed TCS rates for overseas tour program packages and Liberalised Remittance Scheme (LRS) remittances for education and medical purposes?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 12% for overseas tour packages (without stipulation of amount) and 2% for LRS education and medical purposes✓
- 220% for overseas tour packages (above ₹7 lakh) and 5% for LRS education and medical purposes
- 35% for overseas tour packages and 5% for LRS education and medical purposes
- 45% for overseas tour packages and 0.5% for LRS education and medical purposes
Correct answer
2% for overseas tour packages (without stipulation of amount) and 2% for LRS education and medical purposes
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