Planning an international trip? How 20% TCS from next month will impact your foreign travel plans
A new rule from 1 October 2023 levies a 20% tax on all transactions made abroad, increasing expenses for international travelers
Stay updated with breaking news from 20 Tcs. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
A new rule from 1 October 2023 levies a 20% tax on all transactions made abroad, increasing expenses for international travelers
Dreading shelling out an additional 15% for your next overseas trip? Here's what the rule is all about and what to do instead. | Travel
Get ready to shell out more from next month as Budget 2023 has increased Tax Collection at Source (TCS) on foreign remittance through the Liberalised Remittance Scheme (LRS) to 20 per cent from the existing 5 per cent, except in certain cases. As it is going to impact your budget significantly, you must first understand how much TCS will be levied on which transaction. ET Wealth explains
20% Tax Collected at Source (TCS): The online travel booking company said that it will do so 'given the complexity of complying to the changes' to the TCS rules which will come into effect on July 1
At present, three credit cards are available that also waive markup fees, which typically range from 1.5% to 3.5%.