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FOREIGN REMITTANCE TCS
No Form 16? Here's how salaried taxpayers can file ITR using AIS and Form 26AS for FY 2025-26Salaried individuals awaiting Form 16 for ITR filing can still proceed without it. Employers must issue this TDS certificate by June 15th. ...- US Stocks: GIFT City or traditional broker? Before you start overseas investing, know which route saves you more in taxes, costs, and hassleIndians now have easier access to global markets through direct overseas investing or GIFT City. Direct investing offers wider choices and ...
- GIFT City investment: Here’s how resident Indians can invest in global stocks, ETFs, and mutual fundsIndian investors can now access global stocks, mutual funds, and bonds through GIFT City, India's first smart city and International Financ...
- International funds top return charts, but overseas investment limits persist. Should you continue SIPs or explore alternatives?International mutual funds are leading in returns, driven by global markets and currency gains. However, Indian investors face hurdles due ...
- Why investors are ready to play in global equity leagueIndian investors are increasingly looking overseas as global markets outperform domestic equities, driven by themes like AI. While internat...
- 12 key income tax form changes every taxpayer should know: From Form 16 to Form 168A new Income-tax Act arrives on April 1, 2026. It brings fresh income tax forms and replaces many old ones. Taxpayers will use these new fo...
- HDFC Bank alerts clients on card swipe for overseas dealsIn recent times many resident individuals, banking with various financial institutions, have used cards to carry out international capital ...
- How Budget 2026 helps Indian students save thousands on overseas educationUnion Budget 2026 just made studying abroad more affordable for Indian families. Finance Minister Nirmala Sitharaman slashed the Tax Collec...
- TCS on credit card and forex card under RBI LRS lacks parity: What experts suggest Budget 2026 do?Foreign spending by Indians faces a tax anomaly. While forex and debit cards incur Tax Collected at Source (TCS) under LRS, international c...
- TCS on foreign remittance limit hiked from Rs 7 lakh: Check the new limit announced in Budget 2025TCS Limit in Budget 2025: FM proposes to hike the TCS limit to Rs 10 lakh from Rs 7 lakh currently. The TCS is applicable to the outward fo...
- TCS on sending money abroad is 20% in many cases: Will Budget 2025 reduce this to 5%?Reduce TCS on LRS in Budget 2025: Following the amendments made in the Income Tax Act, TCS on sending money abroad in specified cases attra...
- Sent more than Rs 6 lakh abroad? You may get a tax notice by December 31, 2024Income tax notice: You may get a income tax notice by December 31, 2024 if the tax department found you have income which escaped assessmen...
- Outward remittances exceeding ₹6 lakh come under I-T scannerThe move will help the government to identify cases where the remittance was sent but was not reported by the taxpayer in their filling, th...
- TCS paid on foreign remittances, purchase of car can be used to lower TDS on salaryTCS on Foreign remittances: Budget 2023 raised TCS on most foreign remittances under LRS to 20%. The initial implementation was met with cr...
- Interim Budget seals India's plan for higher taxes on your foreign holidaysThe Interim Budget 2024 includes the inclusion of increased Tax Collected at Source (TCS) rates on foreign remittances into the Income Tax ...
- New TCS rules have kicked in: Here's what gets costlier and what remains sameStarting October 1, 2023, new tax collection at source (TCS) rates will affect various financial transactions, such as international travel...
- 300% hike in TCS from July 1, 2023: How it will impact foreign investments, international trips, credit card spends abroadGet ready to shell out more from next month as Budget 2023 has increased Tax Collection at Source (TCS) on foreign remittance through the L...
- Sending money abroad for education? Watch out for these errors to avoid 20% TCSThe higher rate of TCS will not apply to education expenses incurred abroad. But parents must be careful about the fine details of TCS whil...
- Budget proposes hike in TCS on overseas travel, fund remittances out of India to 20%Also, 20 per cent TCS will be applicable in cases where funds in excess of Rs 7 lakh are sent out of India under the Liberalised Remittance...
- How tax will be collected at source from individuals on these transactions from Oct 1TCS will be levied on foreign remittances made through the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India (RBI) and for b...
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