What percentage of TCS is applicable on education payments?

Under LRS, payers can send up to Rs 10 lakh per year without being subject to TCS for education tuition or fees. If international payment crosses the threshold of Rs 10 lakh and is financed by a loan from any approved financial institution, a TCS of 0.05 percent will be levied. The Rs 10 lakh threshold for LRS is a combined threshold, applicable to TCS on all LRS transactions, regardless of the purpose of the remittance. Any international payment beyond Rs 10 lakh for education purposes, not obtained through a loan, will carry a TCS tax rate of 2 percent.