SC Explains When Shares Received After Company Amalgamation are Taxable as Business Income  ||  SC: Excavators, Dumpers Etc Used Within Factories aren’t Motor Vehicles For Road Tax Purposes  ||  SC: Complaints Alleging Fraud under Companies Act Can Be Filed Only By SFIO, Not By Private Parties  ||  SC: Preventive Detention Cannot Override Bail and Requires Proof of a Threat to Public Order  ||  Supreme Court: Multiple Complaints Are Valid For Dishonour of Several Cheques in One Transaction  ||  SC: Bail Should Not be Refused Mechanically Nor Granted Based on Irrelevant Considerations  ||  Gujarat HC: Motor Accident Compensation Doesn’t Cover Medical Expenses Paid by Charity  ||  HP High Court: Panchayati Raj Elections Cannot Be Postponed Beyond Five-Year Term  ||  Ker HC: Victim Cannot File Second Appeal Seeking Special Leave Against Acquittal Under S.419(4) BNSS  ||  Delhi HC: Right to Higher or Professional Education is Fundamental and Cannot be Curtailed Lightly    

#Major Changes Implementing From Today: 5% Tax to be Levied on Foreign Fund Transfer - (01 Oct 2020)

DIRECT TAXATION

Any amount sent abroad to buy foreign tour packages, and every other foreign remittance made above Rs.7 Lakhs, will attract a tax-collected-at source (TCS) from 1st October, 2020 unless the tax is already deducted at source (TDS) on that amount. The tax on foreign tour packages will be 5% for any amount.

Tags : FOREIGN FUND TRANSFER   TAX COLLECTED AT SOURCE  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved