Credit card payments on foreign tours to be brought under LRS to ensure compliance with TCS

Last updated: 27 March 2023 Follow on Google News

Credit card payments for foreign travel will be brought under Reserve Banks Liberalised Remittance Scheme (LRS) to ensure that such expenses do not escape TCS (Tax Collection at Source). While moving the Finance Bill 2023 for consideration and passage in the Lok Sabha on Friday,Finance Minister N

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CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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