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

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

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 ...

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 ...

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.

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

Budget 2025 introduces higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS), aiding small taxpayers and gig workers. TDS on dividend income's limit rises from Rs 5,000 ...

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

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