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

Last updated: 20 May 2023 Follow on Google News

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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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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