Credit Card Remittance
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Explained: Why Credit Card Spends Overseas Won't Be Taxed At Source
While credit card spends overseas will not attract tax collected at source now as such transactions have been kept outside the liberalised remittance scheme, any international transaction conducted from India will attract the levy.
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Tax Hike On international Transactions (TCS) Pushed Back To October 1
The government on Wednesday said overseas spending using international credit cards will not be included under the Liberalised Remittance Scheme (LRS) and hence, would not attract TCS.
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Ministry's Clarification On Tax On Overseas Spending Through Credit Cards
The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards.
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Here's What Experts Say About Changes Made In LRS For Credit Cards
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the government clarified on Thursday.
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Explained: Finance Ministry's FAQs On Remittance Scheme
The Finance Ministry has published an FAQ on its announcement that international credit card payments will come under the RBI's liberalised remittance scheme, or LRS.
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Credit Card Spend In Forex To Come Under RBI's Remittance Scheme
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 annum without the authorisation of the Reserve Bank.
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Credit Card Payments For Foreign Tours To Be Brought Under RBI's Liberalised Remittance Scheme
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source).
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Explained: Why Credit Card Spends Overseas Won't Be Taxed At Source
While credit card spends overseas will not attract tax collected at source now as such transactions have been kept outside the liberalised remittance scheme, any international transaction conducted from India will attract the levy.
-
Tax Hike On international Transactions (TCS) Pushed Back To October 1
The government on Wednesday said overseas spending using international credit cards will not be included under the Liberalised Remittance Scheme (LRS) and hence, would not attract TCS.
-
Ministry's Clarification On Tax On Overseas Spending Through Credit Cards
The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards.
-
Here's What Experts Say About Changes Made In LRS For Credit Cards
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the government clarified on Thursday.
-
Explained: Finance Ministry's FAQs On Remittance Scheme
The Finance Ministry has published an FAQ on its announcement that international credit card payments will come under the RBI's liberalised remittance scheme, or LRS.
-
Credit Card Spend In Forex To Come Under RBI's Remittance Scheme
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 annum without the authorisation of the Reserve Bank.
-
Credit Card Payments For Foreign Tours To Be Brought Under RBI's Liberalised Remittance Scheme
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source).
