TCS on remittance

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Accounts
177 Points Posted on 02 October 2020
what rule has been applied in case of TCS on remittance wef 01/10/2020. does it also applicable to local RTGS and NEFT payments made.
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On 02 October 2020 at 23:51 Report
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Quick Summary
This discussion clarifies the rules surrounding Tax Collected at Source (TCS) on remittances, effective from October 1st, 2020. It explores whether TCS applies to local RTGS and NEFT payments, with differing opinions presented. The conversation also touches upon the applicability of TCS to LCR (Liberalised Remittance Scheme) transfers.

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Student
844 Points Posted on 03 October 2020
Yes.........
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On 03 October 2020 at 04:01
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Tax consultant
5895 Points Posted on 03 October 2020
Yes it's applicable
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On 03 October 2020 at 09:12
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39 Points Posted on 04 October 2020
I think no TCS on remmintance is applicable on online payment or NEFT it is applicable only when transfer via LCR
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On 04 October 2020 at 09:41
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Accounts
177 Points Posted on 05 October 2020
What is LCR?.
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On 05 October 2020 at 20:06

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