-
WebTeam
- September 2, 2025
Meet Arjun.
A 29-year-old mechanical engineer from Annanur, Chennai, Arjun’s life was a mix of factory floors, metro rides, and evening strolls along the streets lined with bajji stalls and tea kadais. Like most young professionals in Chennai, he had big dreams but lived a grounded life. Things were smooth—until his younger sister got admission to a prestigious UK university.
Excited but anxious, his family pooled their savings to send her abroad. Arjun took charge of arranging the money transfer, confident it was just a simple bank transaction. But when he saw 20% of their savings vanish as Tax Collected at Source (TCS), his heart sank.
💥 The Shock of TCS: A Chennai Family’s Wake-Up Call
“Wait… why is the bank charging so much? Is this a penalty?!” Arjun thought, panicking.
That’s when reality hit him. Sending money abroad isn’t as simple as clicking “transfer.” With new TCS rules effective April 2025, overseas remittances for education, travel, gifts, or investments can attract 5%-20% tax deductions upfront. For a middle-class family scraping together tuition fees, this was a nightmare.
Arjun started researching frantically, searching terms like “How to save tax on foreign remittances Chennai,” “TCS refund for education abroad,” and “ITR filing services near Anna Nagar Metro.” That’s when he discovered Wish Tree Consultants Pvt Ltd—a tax and compliance expert firm located just a few metro stops away in Anna Nagar East.
🌳 Stepping Into Wish Tree Consultants: Relief at Last
Located at 2nd Floor, A-Block 6th Street, Near Anna Nagar East Metro, Chennai – 600102, Wish Tree Consultants is known for being a one-stop solution for tax, audit, and advisory services.
Arjun visited their office, and from the moment he entered, he felt at ease. The advisors were approachable, friendly, and genuinely cared.
They explained the April 2025 TCS changes in simple words:
💡 For Education Transfers:
-
Up to ₹10 Lakhs → No TCS
-
Using an Education Loan → No TCS
-
Above ₹10 Lakhs → 5% TCS only on the extra amount.
(Example: Send ₹14 Lakhs → Pay TCS only on ₹4 Lakhs = ₹20,000)
💡 For Travel, Investments & Gifts:
-
Flat 20% TCS applies.
And here’s the kicker: TCS is not a loss. You can claim a refund by filing your Income Tax Return properly. But if your PAN is incorrect or Aadhaar isn’t linked, you’ll face default 20% deductions—even for education transfers.
Thanks to Wish Tree Consultants’ 15+ years of experience, Arjun avoided unnecessary losses and got step-by-step guidance to organize transfers smartly.
🔗 Why Chennai Professionals Trust Wish Tree Consultants
Whether you’re a salaried employee, entrepreneur, or NRI, Wish Tree Consultants Pvt Ltd is a name trusted across Chennai for:
✅ Income Tax Filing Services
✅ GST Registration & Filing
✅ TDS Filing & Compliance
✅ Company Incorporation
✅ Digital Signature Services
✅ Audit & Assurance
✅ Business Advisory & Loan Project Reports
📞 Contact: 8124422221
📍 Visit: Google Map Location
🌐 Website: wishtreeconsultancy.com
🌟 Fun Fact Corner
💡 Did You Know?
-
India introduced TCS on foreign remittances to track high-value transactions, not penalize taxpayers.
-
Chennai is one of India’s top hubs for students going abroad—making awareness of TCS crucial.
-
More than 70% of people never claim TCS refunds simply because they don’t know how.
📝 Quick Quiz: Test Your TCS Knowledge
1️⃣ Sending ₹8 Lakhs for your child’s education = TCS?
-
a) Yes
-
b) No
2️⃣ Sending ₹12 Lakhs via education loan = TCS?
-
a) Yes
-
b) No
3️⃣ Gifting ₹5 Lakhs abroad = TCS percentage?
-
a) 5%
-
b) 20%
(Answers: 1-b, 2-b, 3-b)
📌 The Moral of Arjun’s Story
If Arjun hadn’t Googled and found Wish Tree Consultants, his family would have lost lakhs of rupees unnecessarily. Today, his sister is studying stress-free abroad, and his family is financially secure—all because of timely tax advisory and ITR filing guidance.
Moral:
💡 Financial planning isn’t just for big businesses. Even a simple transfer can become costly without expert help.
So, whether you’re:
-
Sending money for education, travel, or investments,
-
Filing your ITR to claim refunds, or
-
Seeking business tax planning,
Wish Tree Consultants Pvt Ltd is here for you.
📍 Find us easily on Google Maps.
📞 Call 8124422221 to book an appointment.
🌐 Explore services: wishtreeconsultancy.com
📝 Start filing now: Income Tax Filing Page
✨ Wish Tree Consultants – Your Wish is Our Success.
