Budget 2024: The industry wants the Finance Ministry to reconsider the decision of applying TCS at such a higher rate of 20%. The rate is exceptionally high and almost punitive to the citizens who need to make foreign payments, say experts. Earlier, TCS used to be applicable at 5% when you cross the threshold of Rs 7 lakh for certain transactions.
20% TCS on overseas tour package: When you book, offline or online, overseas tour packages, offline or online, of more than Rs 7 lakh in a financial year, you have to pay TCS at 20% from October 1, 2023. Is there any way to reduce this additional upfront cost? Here are a few tips which will help you lower your TCS burden while travelling abroad. Read on to find out.
From October 1, 2023, forex cards will attract at 20% if the user loads over Rs 7 lakh on the card in a financial year. There is no TCS on international credit cards. Does it mean that credit cards will be a better option than forex cards while travelling abroad? Read carefully to find out
From October 1, 2023, forex cards will attract at 20% if the user loads over Rs 7 lakh on the card in a financial year. There is no TCS on international credit cards. Does it mean that credit cards will be a better option than forex cards while travelling abroad? Read carefully to find out