Stay updated with breaking news from Remittance Scheme. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the government clarified on Thursday.
Tax Collected at Source (TCS) for spending through international credit cards under RBI Liberalised Remittance Scheme on overseas tour packages and any other
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source).
It gives investors an opportunity to diversify beyond India, and into US treasurys which are seen as a safe-haven asset in times of economic uncertainty
The Reserve Bank of India (RBI) has partially relaxed the restrictions it had imposed on SBM Bank (India) Ltd to stop all transactions under the Liberalised Rem