International transactions via credit cards have been brought under the RBI’s Liberalized Remittance Scheme or LRS from May 16, 2023. From July 1, 2023, there will be 20 percent TCS on them with no minimum threshold.
In a big blow to mutual fund (MF) investors, capital gains from debt funds and certain other categories of non-equity MFs are set to be taxed at a higher rate.