Foreign Remittances
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Government Exempts TCS For Remittances For Education Purposes
Education Budget 2025: The Government has also increased threshold to collect TCS on remittances under Liberalised Remittance Scheme
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2 Brothers In Delhi Arrested In Rs 4,800-Crore Money Laundering Case
The ED on Wednesday said it arrested two Delhi-based importer brothers in a money-laundering case linked to alleged illegal foreign remittances worth more than Rs 4,800 crore made to Hong Kong and China.
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Foreign-Registered Online Game Portals Sent Rs 4,000 Crore Abroad, Raided By ED
The Enforcement Directorate (ED) on Wednesday said it detected illegal foreign remittances of about Rs 4,000 crore after it carried out multi-state raids against foreign-registered online gaming websites and companies.
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Credit Card Spend In Forex To Come Under RBI's Remittance Scheme
Spending in foreign exchange through international credit cards will be covered under the RBI's liberalised remittance scheme (LRS), under which a resident can remit money abroad up to a maximum of USD 2.50 lakh per annum without the authorisation of the Reserve Bank.
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Credit Card Payments For Foreign Tours To Be Brought Under RBI's Liberalised Remittance Scheme
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source).
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Indians Spending Nearly 1 Billion Dollars Per Month On Foreign Travel: RBI
Indians are spending nearly USD 1 billion every month on foreign travel which is significantly more than the pre-Covid levels, reveals Reserve Bank data on outward remittances.
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India Received Around $89127 Million, Highest Ever Remittances In 2021-22
India received foreign inward remittances of USD 89,127 million in 2021-22, which was the highest ever received in a single year, Union minister of state for finance Pankaj Chaudhary informed Parliament on Tuesday.
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Xiaomi India Dismisses Speculation on India Operations Being Moved to Pakistan as 'False and Baseless'
Xiaomi on Friday refuted a claim made by a portal that the company might shift its India operations to Pakistan after the government froze the company's assets worth $676 million (roughly Rs. 5,500 crore). The company is being probed by the Enforcement Directorate for allegedly made illegal remittances to foreign entities by passing them off as ro...
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Xiaomi's Appeal for Relief Over $676 Million Asset Freeze Declined by Karnataka High Court
An Indian court on Thursday declined to lift a freeze on Xiaomi's $676 million (nearly Rs. 5,500 crore) worth of assets, even as the Chinese smartphone group said this enforcement action had "effectively halted" its operations in its key Indian market. India's federal financial crime agency, the Enforcement Directorate (ED), froze Rs. 5,551 crore o...
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Xiaomi Feels Disappointed by ED Order to Seize Assets, Says Will Continue to Protect Reputation
Xiaomi on Sunday said it was "disappointed" with an Indian order that froze $682 million (nearly Rs. 55,800 crore) of its assets and would continue to protect its interests. An Indian appellate authority on Friday confirmed an April order by India's federal financial crime fighting agency, the Enforcement Directorate, to seize Rs. 5,551 crore, sayi...
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You Can Withdraw Payments From Abroad In Parts From October: Startup Firm
Fintech startup PayNearby will start a facility of inward cross-border remittance by October, allowing beneficiaries to withdraw the amount as per their requirement rather than taking the whole amount in one go.
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Karti Chidambaram's "I Have Lost Count" Tweet Soon After CBI Searches
Congress leader Karti Chidambaram, being investigated in a new case over alleged foreign remittances, today tweeted to say that he has "lost count" of the number of cases filed against him.
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ED Seizes Rs. 5,551 Crore of Xiaomi India in Alleged Foreign Exchange Violation Case
Funds worth over Rs. 5,551 crore of Chinese mobile manufacturing company Xiaomi India have been "seized" for violating the Indian foreign exchange law, the Enforcement Directorate said said on Saturday.
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Government Extends Date For Filing Tax Forms On Foreign Payments Till August 15, 2021
Central Board of Direct Taxes has extended the deadline for manual filing of Forms 15 CA, 15 CB related to foreign remittances, till August 15, 2021.
-
Government Extends Date For Filing Tax Forms On Foreign Payments
The Central Board of Direct Taxes has extended the last date for filing of income tax payments deductions for non resident Indians till July 15, 2021.
-
Government Exempts TCS For Remittances For Education Purposes
Education Budget 2025: The Government has also increased threshold to collect TCS on remittances under Liberalised Remittance Scheme
-
2 Brothers In Delhi Arrested In Rs 4,800-Crore Money Laundering Case
The ED on Wednesday said it arrested two Delhi-based importer brothers in a money-laundering case linked to alleged illegal foreign remittances worth more than Rs 4,800 crore made to Hong Kong and China.
-
Foreign-Registered Online Game Portals Sent Rs 4,000 Crore Abroad, Raided By ED
The Enforcement Directorate (ED) on Wednesday said it detected illegal foreign remittances of about Rs 4,000 crore after it carried out multi-state raids against foreign-registered online gaming websites and companies.
-
Credit Card Spend In Forex To Come Under RBI's Remittance Scheme
Spending in foreign exchange through international credit cards will be covered under the RBI's liberalised remittance scheme (LRS), under which a resident can remit money abroad up to a maximum of USD 2.50 lakh per annum without the authorisation of the Reserve Bank.
-
Credit Card Payments For Foreign Tours To Be Brought Under RBI's Liberalised Remittance Scheme
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source).
-
Indians Spending Nearly 1 Billion Dollars Per Month On Foreign Travel: RBI
Indians are spending nearly USD 1 billion every month on foreign travel which is significantly more than the pre-Covid levels, reveals Reserve Bank data on outward remittances.
-
India Received Around $89127 Million, Highest Ever Remittances In 2021-22
India received foreign inward remittances of USD 89,127 million in 2021-22, which was the highest ever received in a single year, Union minister of state for finance Pankaj Chaudhary informed Parliament on Tuesday.
-
Xiaomi India Dismisses Speculation on India Operations Being Moved to Pakistan as 'False and Baseless'
Xiaomi on Friday refuted a claim made by a portal that the company might shift its India operations to Pakistan after the government froze the company's assets worth $676 million (roughly Rs. 5,500 crore). The company is being probed by the Enforcement Directorate for allegedly made illegal remittances to foreign entities by passing them off as ro...
-
Xiaomi's Appeal for Relief Over $676 Million Asset Freeze Declined by Karnataka High Court
An Indian court on Thursday declined to lift a freeze on Xiaomi's $676 million (nearly Rs. 5,500 crore) worth of assets, even as the Chinese smartphone group said this enforcement action had "effectively halted" its operations in its key Indian market. India's federal financial crime agency, the Enforcement Directorate (ED), froze Rs. 5,551 crore o...
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Xiaomi Feels Disappointed by ED Order to Seize Assets, Says Will Continue to Protect Reputation
Xiaomi on Sunday said it was "disappointed" with an Indian order that froze $682 million (nearly Rs. 55,800 crore) of its assets and would continue to protect its interests. An Indian appellate authority on Friday confirmed an April order by India's federal financial crime fighting agency, the Enforcement Directorate, to seize Rs. 5,551 crore, sayi...
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You Can Withdraw Payments From Abroad In Parts From October: Startup Firm
Fintech startup PayNearby will start a facility of inward cross-border remittance by October, allowing beneficiaries to withdraw the amount as per their requirement rather than taking the whole amount in one go.
-
Karti Chidambaram's "I Have Lost Count" Tweet Soon After CBI Searches
Congress leader Karti Chidambaram, being investigated in a new case over alleged foreign remittances, today tweeted to say that he has "lost count" of the number of cases filed against him.
-
ED Seizes Rs. 5,551 Crore of Xiaomi India in Alleged Foreign Exchange Violation Case
Funds worth over Rs. 5,551 crore of Chinese mobile manufacturing company Xiaomi India have been "seized" for violating the Indian foreign exchange law, the Enforcement Directorate said said on Saturday.
-
Government Extends Date For Filing Tax Forms On Foreign Payments Till August 15, 2021
Central Board of Direct Taxes has extended the deadline for manual filing of Forms 15 CA, 15 CB related to foreign remittances, till August 15, 2021.
-
Government Extends Date For Filing Tax Forms On Foreign Payments
The Central Board of Direct Taxes has extended the last date for filing of income tax payments deductions for non resident Indians till July 15, 2021.
