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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. ....
TCS on foreign remittances from October 1, 2023: The Budget 2023 hiked TCS on foreign remittances of more than Rs 7 lakh through the LRS to 20% for investments in overseas assets, real estate, bonds, foreign company stocks, etc. The higher rate comes into effect on October 1, 2023. If you directly invest in international stocks, you should know how the new TCS rule is going to impact your investment from tomorrow. ....
Your PAN will become inoperative if it is not linked to Aadhaar by June 30, 2023. Though inoperative PAN will make it difficult for an individual to do certain transactions. However, there are certain transactions that will continue with inoperative PAN albeit with higher TDS and TCS deduction on the money transactions. ....
Get ready to shell out more from next month as Budget 2023 has increased Tax Collection at Source (TCS) on foreign remittance through the Liberalised Remittance Scheme (LRS) to 20 per cent from the existing 5 per cent, except in certain cases. As it is going to impact your budget significantly, you must first understand how much TCS will be levied on which transaction. ET Wealth explains ....