TCS on Credit Card Payments: Impact on International Transactions and How to Navigate the Changes

CA Krishna Kumawat , Last updated: 22 May 2023  
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With the recent amendments in the Foreign Exchange Management Act (FEMA), international credit card spending now falls under the Reserve Bank of Indias (RBI) Liberalised Remittance Scheme (LRS). This change has brought a significant impact on the tax liabilities and expenses of individuals using cre

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CA Krishna Kumawat
(CA)
Category Income Tax   Report

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