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No TCS on overseas spending through international debit or credit cards up to Rs 7 lakh per financial year: Centre

No TCS on overseas spending through international debit or credit cards up to Rs 7 lakh per financial year: Centre

May 20, 2023, at 07:16 am

New Delhi: The Centre on Friday announced that individuals who use their international debit or credit cards for payments, up to Rs 7 lakhs per financial year, will be exempted from the limits set under the Liberalized Remittance Scheme (LRS).