We all know, that starting October 1, 2023, the new TCS (Tax Collected at Source) has increased for remitting money abroad from India under the Liberalized Remittance Scheme (LRS). These will increase the burden of TCS on Foreign Remittance on Education. Is there a way out to minimize this tax burden by proper planning orRead More
is TCS on foreign Remittance refundable
How Travellers Can Reduce TCS on Foreign Remittance on Tour Package
This is part 2 of the series – How increased TCS Rates Impact can be reduced on Remittance under LRS? We already discussed how parents of kids studying abroad can reduce the burden of increased TCS (Tax Collected at Source) through proper planning of remittance. Here we will discuss how travelers can reduce the TCSRead More
New TCS Rates on Remittance Post Oct 01, 2023
New TCS Rates for Remittance will apply from Oct 01, 2023. Outward Remittances of beyond INR 7 Lakh, will attract a TDS of 20%. The previous TDS Rate was 5%. (Except payments made for Education or medical purposes). So let’s check the details of this new rule of 20% New TCS Rates on Remittance internationally.Read More