Key Highlights Introduction Transferring funds across countries involves converting Indian rupees into foreign currency and sending them through reliable channels. Whether paying tuition fees, accommodation costs, or other overseas expenses, having a clear understanding of the transfer methods available ensures efficient transactions. The Liberalised Remittance Scheme (LRS) by the Reserve Bank of India provides students

Key Highlights Introduction Tax Collected at Source (TCS) is important for sending money abroad, especially with the Reserve Bank of India’s (RBI) Liberalised Remittance Scheme. According to income tax laws, if you send more than ₹10 lakh in a financial year, it falls under TCS rules. that can impact your taxable income. These rules change

When it comes to international money transfers, tax compliance can feel overwhelming. Whether you’re sending money abroad for education, travel, investment, or medical treatment, understanding India’s tax laws on outward remittance is crucial. One such regulation is Section 206C(1G) of the Income-tax Act, 1961, which introduces Tax Collected at Source (TCS) on foreign remittances under