Page 2 - Remittance Scheme News Today

At this pace, the mop-up is likely to be around Rs 19 lakh crore in the fiscal ending on March 31, 2024, exceeding the estimate of Rs 18.23 lakh crore in the 2023-24 Budget.

New Delhi, Dec 29: Personal income and corporate tax collections are likely to rise to more than Rs 19 lakh crore in 10 years of Prime Minister Narendra Modi-led government, providing more leeway to come out with people-friendly tax measures.Driven by the increasing income of individuals, net direct tax collections after adjusting for refunds increased

Two British banks, a Swiss lender, and an Emirates institution severed ties with over two dozen Indians in the last two months. These individuals had initially opened accounts under the RBIs Liberalised Remittance Scheme (LRS), allowing up to $250,000 annual investment. Some offshore banks demand a minimum balance exceeding $1 million, urging clients to use wealth management for investments, as banks earn fees, incentivizing client retention despite shrinking account balances.

You can remit money through various secured agencies as they provide a simple and convenient money transfer experience.

The 10-year Treasury yield hit 5 per cent, the highest since 2007, while the two-year yield hit 5.25 per cent, the highest since 2000

While loans are an option to fund this education, parents typically end up either partially or fully funding their child’s education.

20% TCS on Foreign Remittance: Here's all you need to know about these changes, which are going to be effective from October 1, 2023

It is wise to get an international debit card to make foreign transactions simple and secure. Further, even at home, if you make online transactions via international websites, then too you will need to use your debit card.

High net worth investors at risk as AIFs face redemption pressure but Sebi rules do not permit easy liquidation.

Every month, the number of UPI transactions continue to surpass those of the previous month. According to the NPCI, for the month of May 2023, the total number of monthly UPI transactions reached a record 9.4 billion