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20% TCS to apply for all purposes under LRS, except Overseas Education & Overseas Medical Expenditure

W.e.f 1 July 2023, Finance Act 2023 has introduced certain changes to the Tax Collection at source (TCS) on Forex drawls/ remittances by Resident Individuals under LRS (Liberalised Remittance Scheme). Press Release Official Press Release – Link here Official Notifications Notification 20/2022 Finance Bill 2023 We request you to make note of the revised TCS […]