Government is making all the efforts to promote the GIFT CITY of India, i.e., International Financial Service Centres (IFSC). Alternatives routes and methods are prescribed for the NRIs to m… Read More
Mumbai, May 29 (IANS) The Reserve Bank of India (RBI) has imposed a penalty of Rs 36.38 lakh on HSBC Limited for violation of directions on reporting requirements under the Liberalised Remit… Read More
Context: The role of the International Finance Securities Center (IFSC) at Gujarat International Finance and Tech (GIFT) city is vital in overcoming trade finance challenges.
About GIFT C… Read More
Muthoot Forex Limited offers outward remittance services for students wanting to remit their educations fees for study abroad. Muthoot Forex Limited also provides Outward remittances facilit… Read More
Muthoot Forex Limited offers outward remittance services for students wanting to remit their educations fees for study abroad. Muthoot Forex Limited also provides Outward remittances facilit… Read More
In a transformative move, banks are gearing up to integrate international credit card spending into the Liberalised Remittance Scheme (LRS), marking a significant shift in the management… Read More
Be it traveling abroad for education, medical treatment, business, or pleasure, things have become a lot smoother than before. Flights and hotels are easy to book, popular destinations are s… Read More
The 14th Global Investment Immigration Summit at the Shangri-la Hotel in Delhi
The 14th Global Investment Immigration Summit at the Shangri-la Hotel in New Delhi on February 10, 2024 ma… Read More
Outward remittances under the Reserve Bank of India’s (RBI) Liberalised Remittance Scheme (LRS) registered a month-on-month growth of 28 per cent to $2.4 billion in December, mainly… Read More
The world used to feel like a vast and sprawling place, only accessible through grainy travel catalogues or novels. But thanks to technology, the faraway dream of exploring the world and all… Read More
During the year of the Central Election, Our present government has come up with an Interim Budget for FY 2024-25. All the financial schemes or Plans proposed in the Interim Budget are tempo… Read More
Additionally, it was stated in the budget speech that there are no planned rate adjustments for direct taxes.
The interim budget has implemented the following adjustments on income tax.
Part… Read More
When the COVID pandemic was over, the real estate market was booming, and affluent Indians were looking to invest outside of India as well. According to ANAROCK Indians will buy 40% of all… Read More
Large international banks ask many Indian HNIs to accounts
Introduction:
Mumbai: Several affluent Indians are getting a cold shoulder from large international banks. A higher minimum b… Read More
Stay informed! RBI directs Authorised Dealer Banks to report Liberalised Remittance Scheme data through Centralised Information Management System (CIMS) starting December 26, 2023
The post L… Read More
Modified TCS rates on Liberalised Remittance Scheme (LRS) and overseas tour packages. Effective from October 1, 2023, with threshold adjustments.
The post TCS Rates on LRS Remittance: Key Ch… Read More
While HDFC has been fined for violation of the RBI’s directions on acceptance of deposits from non-residents, Bank of America has been imposed a penalty for violating instructions on r… Read More
Liberalised Remittance Scheme (LRS) of the Reserve Bank of India (RBI)
The LRS is a scheme that allows Indian residents to remit money abroad up to a certain limit without the need for pr… Read More
The newly imposed Tax Collection at Source (TCS) rate on foreign transfers is scheduled to be applicable starting from October 1, 2023. After a three-month delay, the revised TCS… Read More
🔊 Play The Liberalized Remittance Scheme (LRS) is part of the Foreign Exchange Management Act (FEMA) 1999, laying down the guidelines for outward remittance from India. Under LR… Read More
Mumbai: The 12th Global Investment Immigration Summit held at the Sofitel, BKC Mumbai, witnessed a remarkable surge in attendees, signalling a growing interest among Indians in pursuing o… Read More
New 20% TCS Rule
The landscape of tax collection in India is about to undergo significant changes with the introduction of new Tax Collection at Source (TCS) rates, set to take effect fr… Read More
Bengaluru, September 4, 2023: Cashfree Payments, a leading payments and API banking solutions company, has partnered with Jamboree, a leading educational consultancy, to simplify fee payment… Read More
As per Section 206C(1G) of Income Tax Act, inserted with effect from 01.04.2020, Authorised dealer are liable to collect TCS @ 5% on foreign remittance made under Liberalised Remittance Sche… Read More
Discover the recent changes in Tax Collection at Source (TCS) rates and exemptions under the Liberalised Remittance Scheme (LRS) in India. Understand the revised TCS rates, the exclusion of… Read More
Source: This post is created based on the article “Turning the clock back” published in Business Standard on 26th April 2023. Syllabus Topic: GS Paper 3- Indian Economy, Liberali… Read More
Clarification, Exemptions and all one needs to know about the new TCS provision relating to overseas trip & LRS
The Indian travel and tourism sector has been a significant contributor to… Read More
May 18, 2023 19:45 IST
New Delhi [India], May 18 (AF): Tax Collected at Source (TCS) for spending through international credit cards under RBI’s Liberalised Remittan… Read More
Payments made by using international credit cards (ICC) during overseas visits will not attract Tax Collected at Source (TCS), as per a notification issued by the finance ministry on Friday… Read More
I have a son (17) and daughter (21). Mu daughter plans to go abroad for two years. I have two queries: i) How much money can I send her in a year, and can it be every month or does… Read More
According to the latest data released by the central bank, Indians remitted about US$ 27.14 billion in the financial year ended March 2023 under the Reserve Bank of India’s (RBI’… Read More