Outbound remittances for education
Ashok Singhal (8 Points)
22 July 2023Ashok Singhal (8 Points)
22 July 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 23 July 2023
No tax liability will arise of the total taxable income is upto 5 lakhs.
Yes, the income must be reported in ITR, if it is inward remittance.
No need to report it, if it is paid for education and TCS deducted by bank.