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Daily Archives: May 26, 2023

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Tax collected at Source (TCS) enlarged on foreign remittances effective from July 1, 2023

Foreign ExchangeBy Surendra NaikMay 26, 2023

In line with the existing Liberised Remittance Scheme (LRS) in India, any resident individual including a minor is free to remit up to US Dollars 2,50,000 or its equivalent in one financial year for overseas education, traveling abroad for business and private visits, to patients for medical treatment, or to a person for accompanying as…

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