credit card tcs

The story so far: On June 28, the Finance Ministry in two announcements deferred the imposition of an increased 20% rate for Tax Collected at Source (TCS) by three months to October 1, and said transactions made using international credit…

The Indian government has reversed its previous decision of levying a tax on credit card spends outside India. Prime Minister Narendra Modi’s government announced on Wednesday that it will defer the inclusion of international credit card…

Representational file image. Spending in foreign exchange through international credit cards will be covered under the RBI's liberalised remittance scheme (LRS), under which a resident can remit money abroad up to a maximum of $2.50 lakh…