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TCS on forex

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Rajkumar Gutti

880 Points Posted on 27 September 2023

Our company purchase foreign currency from forex dealer, & use this currency by our employee for visiting abroad country for business work.

Can TCS applicable for foreign currency

Replies (4)

Quick Summary

This discussion explores the applicability of TCS (Tax Collected at Source) on foreign currency transactions, specifically for business travel. Participants clarify that TCS is generally not applicable when purchasing foreign currency for employees travelling abroad for work. The conversation also touches upon forex trading and the importance of reliable information and strategies.

Edward K Gill

I provide consultations

17 Points Posted on 27 September 2023

TCS is not typically applicable to foreign currency purchases for business travel.

Rajkumar Gutti

880 Points Posted on 27 September 2023

Suppose we remitted foreign currency through bank to our foreign party service provider , then is it apply

Ernest Candace

2 Points Posted on 15 October 2024

I am still not very good at Forex trading. What is TCS? I would be interested to hear specialists on this matter. I always believe it is important to rely only on verified information obtained from experienced experts. I am currently doing the same by studying various strategies. I found that Owen Jenkins explained copy trading very clearly in the article here https://investorshangout.com/what-is-copy-trading-how-to-do-it-right-18523-/, a strategy that can be more than effective in Forex if learned to apply correctly. In general, I believe that by learning to use strategies, excellent results can be achieved. I am in the process!