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20% TCS update: FinMin says no tax collection on foreign spending via cards for payments up to Rs 7 lakh : comparemela.com
20% TCS update: FinMin says no tax collection on foreign spending via cards for payments up to Rs 7 lakh
To avoid any procedural ambiguity, it has been decided that any payments by an individual using their international Debit or Credit cards up to Rs 7 lakh per financial year will be excluded from the LRS limits and hence, will not attract any TCS,
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