The increase in threshold from Rs 7 lakh to Rs 10 lakh for collecting TCS is expected to benefit the travel and foreign ...

Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD ...

The government has also raised the TCS exemption limit on Liberalised Remittance Scheme (LRS) transactions from Rs 7 lakh to ...

For Liberalised Remittance Scheme (LRS) transactions, the TCS exemption limit has been increased from ₹7 lakh to ₹10 lakh.

The threshold to collect TCS on remittances under RBI’s liberalised remittance scheme (LRS) is proposed to be raised from ₹7 ...

This revision is expected to bring relief to those making smaller foreign transactions, particularly for education, travel, medical expenses, and investments. However, for remittances exceeding ₹10 ...

The existing TCS was applied specifically to remittances exceeding Rs 7 Lakh under the LRS. Besides this, the government has ...

Budget 2025 has proposed higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS). The new ...

Budget: Finance Minister Nirmala Sitharaman raised the TCS threshold on remittances under RBIs Liberalized Remittance Scheme ...

Union budget 2025 will rationalise taxation for the middle class by simplifying tax deducted at source and tax collected at ...