November 22, 2024 23:07 (IST)
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Higher TCS levy on overseas spending postponed by 3 months to Oct 1

Higher TCS levy on overseas spending postponed by 3 months to Oct 1

New Delhi: The Finance Ministry said on Wednesday that the implementation of the increased Tax Collected at Source (TCS) on overseas spending would be delayed by three months from the initial deadline of July 1.

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

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).