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TCS ON FOREX TRANSACTIONS
Sending money from India? Here’s how same-day international money transfers for education can reach universities in as little as 6 hoursThis online platform now offers same-day international money transfers for overseas education payments, a significant improvement over prev...08 Jan, 2026, 07.10 PM IST- Forex card vs credit card: Maximize savings on foreign trips by comparing TCS, charges & rewards on overseas spendsBefore travelling abroad, Indians face a complex choice, whether to opt for a forex card or a credit card. Debit cards are generally ruled ...21 Jul, 2025, 01.19 PM IST
- 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...23 Jul, 2024, 02.54 PM IST
- ITR filing: Credit card and forex spend reported separately by banks in AIS, know the impact and what you can doIncome tax return: While filing your ITR make a note that banks are now reporting total forex spends as a separate category in addition to ...02 Jul, 2024, 03.01 PM IST
- Will Budget 2024 reduce 20% TCS for taxpayers, levy TCS on credit card forex payments?Budget 2024: The industry wants the Finance Ministry to reconsider the decision of applying TCS at such a higher rate of 20%. The rate is e...29 Jan, 2024, 01.32 PM IST
- Debit card or credit card: Which one should you use on international trip to save on forex, ATM charges, TCS?Debit card vs credit card: The first thing to keep in mind is that using a debit card means spending the money in your account. Credit card...18 Dec, 2023, 12.59 PM IST
- 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...02 Oct, 2023, 03.07 PM IST
- Higher TCS applies to overseas expenditure starting October 1: How will it affect your study abroad budget?Parents sending money for other living expenses will face the 20% TCS unless they can prove it is for educational purposes. To mitigate the...01 Oct, 2023, 12.48 PM IST
- 20% TCS from October 1, 2023: How a forex card could save you more than a credit card during international tripsTCS on forex payments: From October 1, 2023, forex cards will attract at 20% if the user loads over Rs 7 lakh on the card in a financial ye...25 Sep, 2023, 03.06 PM IST
- New 20% TCS rule from October 1, 2023: Know TCS rates on international trips, forex payments, debit, credit card, education, foreign investmentsStarting from October 1, 2023, all overseas outward remittances, except for medical and educational purposes, over a threshold limit of Rs ...25 Sep, 2023, 03.03 PM IST
- 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...14 Sep, 2023, 11.59 AM IST
- Sending money abroad for education? Pay 20% TCS from July 1 if you don't do thisBudget 2023 raised the Tax Collection at Source (TCS) rate for foreign remittances under the Liberalised Remittance Scheme (LRS) from 5 per...16 Jun, 2023, 12.58 PM IST
- Using prepaid forex cards? Still no clarity on 20% TCSAt present, foreign currency and prepaid forex cards up to Rs 7 lakh accessed through these RBI-authorised facilities for international tra...27 May, 2023, 11.59 AM IST
- Credit card forex payments under LRS: You have to pay 20% TCS on these transactions from July 1, 2023Credit card spending in a foreign currency will now be a part of LRS's annual limit of $2,50,000 per person. Further, it will be subject to...19 May, 2023, 06.14 PM IST
- 4 ways students can carry money abroadThere are several efficient ways with which students can carry out monetary transactions abroad. Pick what suits you best.27 Jun, 2017, 05.00 AM IST
- TCS expects lower forex loss in June quarterTata Consultancy Services Ltd is expected to report a further fall in foreign exchange loss in the June 2009 quarter, said its CFO S Mahali...21 Apr, 2009, 01.22 PM IST
- Forex losses likely to play spoilsport for TCSIn rupee terms, the company is likely to report flat sequential growth in revenue and net profit.18 Apr, 2009, 07.20 AM IST
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