Foreign Trip Booking: Credit Card Users May Soon Have To Pay 20% TCS On Forex Transactions
April 21, 2023 18:14Foreign travel packages will be more expensive to book beginning July 1, 2023. The tax collected at source (TCS) rate for overseas remittances under the Liberalised Remittance Scheme (LRS) has been increased from 5 per cent to 20 per cent in Budget 2023. As a result, TCS on remittances for booking overseas travel packages will […]