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20% tax on foreign spending, travel via international credit cards - Explained I TCS, LRS New Rules
43 views | May 26, 2023, 07:30:00 AM | TOI.in
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TCS Hike for Foreign Remittance & Travel: Are you planning to travel abroad for a holiday? Did you know that there are new TCS rules for foreign remittances under the Liberalised Remittance Scheme (LRS) and for spends made through international credit cards? In this week’s episode of TOI Wallet Talks, Russell Gaitonde, Partner at Deloitte India takes us through the fine print. One thing that you must note is that holidaying abroad is definitely going to become more expensive from July 1, 2023! What are the new rules that you must know? And, what’s the provision for claiming a refund on TCS? Watch the video to get answers to all this as Russell Gaitonde breaks it down for us.
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