It is not clear that remittance done to Nepal and Bhutan in INR there is no foreign currency conversion involve we still have to pay TCS is there any clarification on this.
Menu
TCS is applicable on remittance done in INR to Nepal also ?
Replies (1)
As per the current provisions of the Income Tax Act, Tax Collection at Source (TCS) is applicable on remittances made to specified foreign countries, including Nepal and Bhutan, even if the remittance is done in Indian Rupees (INR) and no foreign currency conversion is involved. This means that TCS needs to be deducted on such remittances.
To learn more about TCS under GST click here
For more detailed information, visit Swipe Blogs.
Recent Topics :
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
- Question on buy back of shares
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
- Revising salary on 24Q Q4 FY 25-26
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
Related Topics :
CAclubindia
