TCS Exempted for Small Debit and Credit Card Transactions Abroad up to Rs 7 Lakh

Last updated: 20 May 2023

Clarification regarding applicability of Tax Collection at Source to small Debit/Credit Transactions under LRS Concerns have been raised about the applicability of Tax Collection at Source (TCS) to small transactions under the Liberalized Remittance Scheme (LRS) from July 1, 2023. To avoid an

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Category Income Tax   Report

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