Easing of tax for education-related foreign remittances

new delhi: tax deductions on foreign remittances for purposes such as education, medical expenses, and investments will now be eased.the threshold for tax-free remittances has been raised from rs 7 lakh to rs 10 lakh annually. as a result, any remittance up to rs 10 lakh per year will not incur a tax deduction.the tax rates remain unchanged: 5 percent for medical purposes and 20 percent for investments and foreign travel.additionally, remittances for education purposes, when funded through loans from financial institutions, will continue to enjoy a full tax exemption.