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Tag: TCS

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All India Association of Authorized Money Changers & Money Transfer Agents advocates level-playing field for overseas transactions

All India Association of Authorized Money Changers & Money Transfer Agents advocates level-playing field for overseas transactions

The All-India Association of Authorized Money Changers and Money Transfer Agents has demanded inclusion of foreign currency cash, wire transfers through banks, pre-paid forex cards and other international payments into the TCS exemption ambit offered

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Credit card usage for international travel to come under tax ambit

Credit card usage for international travel to come under tax ambit

Spending in foreign exchange through international credit cards will be covered under the RBI's liberalised remittance scheme (LRS), under which a resident can remit money abroad up to a maximum of USD 2.50 lakh per

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Finance Minister addresses the issue of bias on account of TCS

Finance Minister addresses the issue of bias on account of TCS

Speaking in the Lok Sabha today, the Finance Minister  stated, “It has been represented that payments for foreign tours through credit cards are not being captured under the Liberalised Remittance Scheme (LRS) & they escape

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IATO hails Govt decision to scrap TCS on sale of overseas tour packages to foreign tour operators

IATO hails Govt decision to scrap TCS on sale of overseas tour packages to foreign tour operators

IATO expresses its sincere gratitude to the Government for withdrawing completely 5 percent Tax Collection At Source (TCS) charged on sale of overseas tour packages to foreign tour operators. The same was earlier withdrawn only

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TCS likely to launch chip-based e-passports by year end

TCS likely to launch chip-based e-passports by year end

Tata Consultancy Services (TCS), which recently extended its contract to operate India’s passport services, expects to roll out chip-based e-passports by the end of the year, The Economic Times reports. TCS is also setting up

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TAFI WR’s session on TCS dispels doubts; members looking at further dialogue with government

TAFI WR’s session on TCS dispels doubts; members looking at further dialogue with government

The Western Region Chapter of Travel Agents Federation of India (TAFI) organised an educative session on TCS (Tax Collected at Source) in Mumbai recently. The aim was to dispel doubts about the new law for

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