#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  

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