Tag: liberalised remittance scheme
Posted in Business
Govt excludes overseas credit card spends from LRS in a mid-night notification
The finance ministry finally on midnight Friday amended foreign exchange management rules to exclude international credit card spends from the purview of liberalised remittance scheme…
Posted in Business
Confusion persists on post-Oct 1 TCS regime
New Delhi: Confusion persists over the applicability of TCS (tax collected at source) up to 20% from October 1 on foreign remittances through international credit…
Posted in Business
Confusion on LRS tweak days before rollout; junk it: Experts
With the July 1 deadline for its controversial tax on international credit card spends looming, the government is still working on knotty issues to evolve…
Posted in Business
Credit card spends outside India will attract 20% TCS: How users may be impacted
Spending in foreign exchange through international credit cards will be covered under the Reserve Bank of India’s liberalised remittance scheme (LRS), under which a resident…