The Finance Act, 2020 has amended section 206C of the Income tax Act, 1961 (the Act) whereby foreign remittance made under the Liberalized Remittance Scheme (LRS) of the Reserve Bank of India (RBI) will require tax collection at source (TCS) effective 1 October 2020. The summary of TCS ...
A 5% TCS is now imposed on all foreign remittances under the Liberalised Remittance Scheme (LRS). This tax is applicable on foreign transfers exceeding INR 7 lakh in a financial year. However, if the remittances are funded by loans for higher education abroad, the TCS limit is reduced subst...
The capital investments had a phased feature (multiple divisions into two to three years of remittance), and the number of projects were signed during the same year. Therefore, China's OFDI concentration in Indonesia and the number of projects had a certain degree of heterogeneity. 4.2. Spatial...
with your charges and * a) Issue a draft : Beneficiary's Name ___ Address ___ * b) Effect the foreign exchange remittance directly - 1. Beneficiary's Name : ___ 2. Name and address of the Bank : ___ 3. Account No. : ___ * c) Issue travellers cheques for ___...