TCS on luxury goods, Budget 2024: The budget documents have proposed the levying of TCS (tax collected at source) on notified luxury goods ...

The Liberalised Remittance Scheme (LRS) witnessed Indians spending a record $31.7 billion overseas in FY24, up 17% from the previous year, ...

Under the belief that reissuing the specific notification may not go against the model code of conduct, many banks are preparing to integra...

Remittances down 37% over September; shift to credit-card spending for international travel likely. In October, outward remittances under t...

20% TCS on overseas tour package: When you book, offline or online, overseas tour packages, offline or online, of more than Rs 7 lakh in a ...

Starting October 1, 2023, new tax collection at source (TCS) rates will affect various financial transactions, such as international travel...

Parents sending money for other living expenses will face the 20% TCS unless they can prove it is for educational purposes. To mitigate the...

Earlier this week, the ministry said that there will be TCS on foreign remittances of up to Rs 7 lakh per financial year. Further, it also ...

The Indian government has clarified that remittances for education and medical treatment expenses will cover associated costs like internat...

RBI has in place measures to raise inward remittances, and a similar tightening of rules for outflow should suffice. Caution over conservin...

Banks and the Reserve Bank had flagged the difficulty in executing the TCS regime on credit cards to the government. The finance ministry o...

From July 1, overseas expenses on credit cards exceeding Rs 7 lakh will be subject to a 20 per cent TCS. However, if such expenses is incur...

The ministry said since credit card spending overseas has now been brought under LRS, such remittances would be liable to tax collected at ...

The Finance Ministry has clarified that foreign currency payments such as digital subscriptions to publications or goods bought on foreign ...

Earlier, the use of credit cards for meeting expenses while traveling outside India was not included under LRS. As per the notification, ru...

TCS Chairman Ratan Tata said the company has not received any scrutiny notice from the I-T dept for claiming tax benefits on its onshore se...

MOIA tender is for a Rs 100 cr project that aims to reduce exploitation of semi-skilled and unskilled Indians. 'IT cos should not do poachi...