Finance Act 2022 introduced Tax on remittance to other countries at 5 % Under which head it is to be entered in Income Tax Return
Menu
Tax on Remittance
Replies (2)
It would reflect in TCS column. It is not taxable, but just like TDS, you can claim the amount against your tax liability, while filing ITR. The balance if any, can be claimed as refund.
For business purpose it is applicable. But generally personal remittance must nit be subject to tcs.
Recent Threads
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
- Tds penalty for in operative pans
- TDS on Property- 26QB filing Doubt
- HSN code for Exempted supplies
- HSN Summary of Outward Supplies (Sales and Advance
- Joint Venture address proof under GST
Related Threads
CAclubindia
