Wednesday, September 9, 2020

Govt. to Levy 5% TCS on Foreign Remittances from October 1 [Read Act]

As the major tax provision kicks off from next month, one needs to keep a tap on their foreign remittances if any as they will now attract TCS at the rate of 5% subject to riders beginning October 2020. As per the Finance Act of 2020, funds sent abroad under the RBI’s liberalised remittance scheme […]

from Taxscan | Simplifying Tax Laws https://ift.tt/3jXkxmj

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