Search For "tax"
Foreign Exchange Industry calls for clarity on proposed 20 per cent TCS: S
Updated : 3 years, 1 month ago IST
Mumbai (Maharashtra) [India], May 25: The foreign exchange Industry has expressed serious concerns about the applicability of 20 per cent Tax Collection at Source (TCS) under the Liberalized Remittance Scheme (LRS) effective from July 1, 2023. On 19th May, 2023, Ministry of Finance clarif
Read More
Data available shows tax collection at source mechanism has been abused, v
Updated : 3 years, 1 month ago IST
Chief Economic Advisor V Anantha Nageswaran on Thursday said that data available on usage of international credit cards points out that tax collection at source mechanism has been "abused" and these "volumes involved were fairly substantial"
Read More
Priyanka Chaturvedi urges Nirmala Sitharaman to scrap TCS, bring clarity o
Updated : 3 years, 1 month ago IST
Amid the ongoing uncertainty on the issue of imposed Tax Collected at Source on the usage of international debit or credit cards during foreign travel, Rajya Sabha member Priyanka Chaturvedi wrote a letter to the Union finance minister Nirmala Sitharaman to consider scrapping or minimising s
Read More
Indore CA Duo Launches Law Legends: India's First App Simplifying Income T
Updated : 3 years, 1 month ago IST
Indore (Madhya Pradesh) [India], May 20 (ANI/PNN): Indore-based Chartered Accountants CA Anmol Bohra and CA Vikram Tongya have developed a groundbreaking application called Law Legends. This innovative app aims to simplify and provide comprehensive information on India's complex Income Tax a
Read More
Hindustan Copper net profit jumps 49 pc to Rs 132.3 cr in March quarter
Updated : 3 years, 1 month ago IST
Revenue of the firm during the quarter under review went up 2.6 per cent to Rs 559.8 crore, against Rs 545.5 crore in the corresponding period of the preceding fiscal.
Read More
TCS for international card spend exempted under RBI's remittance scheme up
Updated : 3 years, 1 month ago IST
The Ministry of Finance on Friday said it decided that any payments by an individual using their international debit or credit cards upto Rs seven lakh per financial year will be excluded from the RBI's Liberalised Remittance Scheme (LRS) limits and hence, will not attract any Tax Collected
Read More
Punjab Vigilance Bureau registers disproportionate assets case against exc
Updated : 3 years, 1 month ago IST
Birdi who is a joint director (Goods and Services Tax), Excise Department, Punjab spent over Rs three crore, approximately 145.40 per cent more than his total income, beyond his known sources of income.
Read More
Here's what experts say about changes made in LRS for credit cards
Updated : 3 years, 1 month ago IST
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the governme
Read More
Automobile dealers' association seeks GST cut on 2-wheelers from 28 per ce
Updated : 3 years, 1 month ago IST
This timely and decisive intervention is aimed at making two-wheelers more affordable, reviving demand, and reinvigorating an industry that has seen a significant slump in sales over the past few years, according to a statement from FADA.
Read More
International credit card spend exempted under RBI's remittance scheme wit
Updated : 3 years, 1 month ago IST
The Centre on Tuesday brought international credit card spending outside India under the Liberalised Remittance Scheme (LRS) and issued an explainer on Wednesday to clear any confusion
Read More
20 pc tax to be collected at source from July under remittance scheme for
Updated : 3 years, 1 month ago IST
Tax Collected at Source (TCS) under Liberalised Remittance Scheme for the sale of overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) through the usage of international credit cards is set to rise from this July
Read More
JK Tyre profit jumps 31 pc to Rs 263 crore in fourth quarter
Updated : 3 years, 1 month ago IST
According to a statement from the company, the tyre maker's net revenues went up 22 per cent to Rs 14,681 crore over the figure in the previous year's corresponding period.
Read More