Parents sending money for other living expenses will face the 20% TCS unless they can prove it is for educational purposes. To mitigate the impact, parents can use international cards, maintain transaction records, use the correct LRS code, and be prepared for income tax returns.
The price-to-earnings ratio for Controladora Vuela Cia De Aviacion ADR (NYSE: VLRS) is above average at 336.41x. The 36-month beta value for VLRS is also noteworthy at 2.53. There are mixed opinions on the stock, with 12 analysts rating it as a “buy,” 2 rating it as “overweight,
The Travel Agents Association of India (TAAI) has appealed to the Indian government to abolish or defer the implementation of the new Tax Collection at Source (TCS) on foreign remittances until the next fiscal year. The TCS, which has been raised from 5% to 20% on foreign remittances under the Liberalised Remittance Scheme, will be applicable to international travel and other remittances.