Effective from July 1, 2023, the Indian government has increased the tax collection at source (TCS) rate on foreign remittances under the Liberalised Remittance Scheme (LRS) from 5 percent to 20 percent and also brought spends done via credit cards under the LRS. Let's understand how this impacts those who would use credit cards for …

Continue reading 20% TCS on international spends using credit cards