Finance Minister Nirmala Sitharaman on Saturday proposed to increase the threshold of tax collected at source (TCS) on remittances under the RBI's Liberalized Remittance Scheme to Rs 10 lakh from the ...

Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD ...

This revision is expected to bring relief to those making smaller foreign transactions, particularly for education, travel, medical expenses, and investments. However, for remittances exceeding ₹10 ...

FM proposes to hike the TCS limit to Rs 10 lakh from Rs 7 lakh currently. The TCS is applicable to the outward foreign ...

The increase in threshold from Rs 7 lakh to Rs 10 lakh for collecting TCS is expected to benefit the travel and foreign exchange sectors, providing a boost to outbound tourism, education and the ...

The threshold to collect TCS on remittances under RBI’s liberalised remittance scheme (LRS) is proposed to be raised from ₹7 ...

The existing TCS was applied specifically to remittances exceeding Rs 7 Lakh under the LRS. Besides this, the government has ...

Sitharaman announced the removal of TCS on remittances for education when the money comes from a loan taken from a specified financial institution ...

Budget: Finance Minister Nirmala Sitharaman raised the TCS threshold on remittances under RBIs Liberalized Remittance Scheme ...

Union budget 2025 will rationalise taxation for the middle class by simplifying tax deducted at source and tax collected at ...

Finance Minister Nirmala Sitharaman revised the Tax Collected at Source (TCS) rates on foreign remittances on Saturday. The ...