Tag International Travel

No 20% TCS On International Card Transactions up to Rs 7 Lakh

No TCS On Small International Card Transactions
The Central Government of India has announced that individuals making international credit and debit card transactions up to Rs 7 lakh will be exempted from 20% Tax Collection at Source (TCS) under the Liberalised Remittance Scheme (LRS). This move comes in response to concerns raised by taxpayers and aims to provide clarity and ease the burden of compliance.