Browsing: lrs

As India’s consumption-driven economy continues to thrive, the young population fuels the demand for these international brands, making Indian consumers…

I am a businessman and run a clothing company in India. My daughter has gone to the US for her…

The flourishing Indian economy, thriving startup ecosystem, and supportive government initiatives collectively provide the opportunity for appealing returns. Additionally, NRIs…

Tax collection at source, or TCS, is an additional amount collected as tax by a seller of specified goods from…

I need to send some money abroad (in excess of $250,000) as a monetary help to my son. How do…

As per the Liberalized Remittance Scheme (LRS), an Indian citizen can send $250,000 per year. Can this amount be used…

The ministry of finance on 28 June deferred the applicability of increased TCS, or tax collected at source, rate of…

Backtracking from its earlier announcement, the Centre, on June 28, decided to defer the decision to include international credit…

I have a son (17) and daughter (21). Mu daughter plans to go abroad for two years. I have two…

The Union budget 2023 has increased the TCS rate on foreign remittances made under LRS from the existing 5% to…