Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD ...

FM proposes to hike the TCS limit to Rs 10 lakh from Rs 7 lakh currently. The TCS is applicable to the outward foreign ...

Finance Minister Nirmala Sitharaman announced significant reforms in Budget 2025, including raising the income tax exemption limit to ₹12 lakh and increasing TDS exemption limits.

The increase in threshold from Rs 7 lakh to Rs 10 lakh for collecting TCS is expected to benefit the travel and foreign exchange sectors, providing a boost to outbound tourism, education and the ...

This revision is expected to bring relief to those making smaller foreign transactions, particularly for education, travel, medical expenses, and investments. However, for remittances exceeding ₹10 ...

The existing TCS was applied specifically to remittances exceeding Rs 7 Lakh under the LRS. Besides this, the government has ...

The Budget removes TCS on remittances up to ₹10 lakh for foreign education when funded by loans, while retaining a 5% TCS for ...

Finance Minister Nirmala Sitharaman on Saturday proposed to increase the threshold of tax collected at source (TCS) on remittances under the RBI's Liberalized Remittance Scheme to Rs 10 lakh from the ...

In a big boost to the Indian middle class, Finance Minister Nirmala Sitharaman on Saturday announced that there will be no ...

Budget: Finance Minister Nirmala Sitharaman raised the TCS threshold on remittances under RBIs Liberalized Remittance Scheme ...

Finance Minister Nirmala Sitharaman revised the Tax Collected at Source (TCS) rates on foreign remittances on Saturday. The ...