Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD ...

The increase in threshold from Rs 7 lakh to Rs 10 lakh for collecting TCS is expected to benefit the travel and foreign exchange sectors, providing a boost to outbound tourism, education and the ...

The threshold to collect TCS on remittances under RBI's liberalised remittance scheme (LRS) is proposed to be raised from ₹7 ...

FM proposes to hike the TCS limit to Rs 10 lakh from Rs 7 lakh currently. The TCS is applicable to the outward foreign ...

This revision is expected to bring relief to those making smaller foreign transactions, particularly for education, travel, medical expenses, and investments. However, for remittances exceeding ₹10 ...

The existing TCS was applied specifically to remittances exceeding Rs 7 Lakh under the LRS. Besides this, the government has ...

BENGALURU: In a significant step to simplify the tax regime and also to reduce the compliance burden, the government has announced to reduce the number of TDS (tax deducted at source) rates. Also, the ...

The TDS threshold on interest payouts for senior citizens has been raised to Rs 1 lakh from Rs 50,000. “The increase in the limit for TDS on interest to Rs 1 lakh will ensure greater cash flow in the ...

Budget: Finance Minister Nirmala Sitharaman raised the TCS threshold on remittances under RBIs Liberalized Remittance Scheme ...

Finance Minister Nirmala Sitharaman announced significant reforms in Budget 2025, including raising the income tax exemption limit to ₹12 lakh and increasing TDS exemption limits.

Finance Minister Nirmala Sitharaman announced in Budget 2023 that the threshold for TCS on remittances under LRS will be ...

Finance Minister Nirmala Sitharaman revised the Tax Collected at Source (TCS) rates on foreign remittances on Saturday. The ...