New 20% TCS rule from October 1, 2023: Know TCS rates on international trips, forex payments, debit, credit card, education, foreign investments
Starting from October 1, 2023, all overseas outward remittances, except for medical and educational purposes, over a threshold limit of Rs 7 lakh in a financial year will attract a tax collection at source (TCS) of 20%. From an international trip to investments in foreign stocks, mutual funds, or cryptocurrencies abroad, or going abroad for higher studies, know how much TCS
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