Home Posts tagged TCS
Top Stories Trade Associations
As the new Tax Collection at Source (TCS) on foreign remittances is set to become applicable from October 1, TAAI has made a last-minute plea to the government, urging them to abolish the decision or defer its implementation until the next fiscal year to allow discussions on overseas tour packages. The government has raised the […]Continue Reading
Ministry Top Stories Trade News
The Ministry of Finance said overseas spending using international credit cards will not be included under the Liberalised Remittance Scheme (LRS) and hence, would not attract TCS. Also, the implementation of a higher rate of tax collected at source (TCS) of 20 per cent on overseas remittances under LRS, like tour expenses, has been deferred […]Continue Reading
Top Stories Trade Associations
TAAI Nagpur Chapter organised a knowledge session on implementation of TCS for its members on 24th June 2023. Chapter Chairman Irshad Mehdi took the initiative to organise this session for the members which was conducted by a renowned CA Saket Bagadia , the entire session was conducted on the inputs shared by GMJ & Co […]Continue Reading
Top Stories Trade News
With days to go for the roll-out of tax-collected-at-source (TCS) on overseas tour packages using credit cards, industry bodies have written to the government flagging concerns, amid fears that domestic travel agents will be hit. Citing the recent clarification to keep debt and credit transactions up to INR 7 lakh outside the ambit, industry bodies […]Continue Reading
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