Allahabad HC: Employees of Constituent Institutions are not Entitled to Central University Benefits  ||  Calcutta High Court: Juvenile Accused Eligible to Apply for Anticipatory Bail under Section 438 CrPC  ||  J&K & L HC: Departmental Proceedings Not Halted by Pending Criminal Case Without Showing Prejudice  ||  Cal HC: CESTAT Appeals Abate After Resolution Plan Success; CENVAT Reversal Requires No Pre-Deposit  ||  Bom HC: SEBI Settlement Doesn’t Protect Accused from Criminal Liability in Serious Economic Offences  ||  SC Directs States to Notify Eco-Sensitive Zones Around Tiger Reserves and Regulate Tiger Safaris  ||  SC: Its 2024 Order Letting Union Review Benami Act Cases Based on 'Ganpati Dealcom' was Incorrect  ||  SC: Rejection of Income Tax Settlement Application Doesn’t Bar Assessee from Contesting Assessment  ||  SC Informed Accessibility Facilities for Visually Impaired Candidates in AIBE and CLAT Expected Soon  ||  Supreme Court: Pendency of Writ Proceedings Does Not Bar Availing Alternative Statutory Remedies    

#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 2025 - All Rights Reserved