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Union Budget 2026-27: Sitharaman calls to reduce tax collected on source for pursuing education, medical purposes under to 2%
Image source: thehindu.com

GK and monthly revision

Union Budget 2026-27: Sitharaman calls to reduce tax collected on source for pursuing education, medical purposes under to 2%

The Union Finance Minister Nirmala Sitharaman has proposed to reduce the Tax Collected at Source (TCS) on overseas tour program packages to 2% without any stipulations for the amount. This move aims to make international travel more affordable, especially for education and medical purposes. The reduction in TCS is significant as it will ease the financial burden on individuals and families pursuing higher education or seeking medical treatment abroad.

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