'Increase penalties, act quickly': Zerodha's Nithin Kamath's formula to curb income tax evasion
Kamath also said that those who want to evade taxes or break rules will always find loopholes.
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.
Kamath also said that those who want to evade taxes or break rules will always find loopholes.
By including credit card transactions in the $250,000 Liberalized Remittance Scheme (LRS) limit, the government has moved to amend the Foreign Exchange Management (Current Account Transaction) Rules...
The Finance Ministry said the changes were necessitated as some instances have come to notice where the payments were
Tax Collected at Source (TCS) for spending through international credit cards under RBI Liberalised Remittance Scheme on overseas tour packages and any other
Get latest articles and stories on Business at LatestLY. 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. Business News | Here's What Experts Say About Changes Made in LRS for Credit Cards.