Overseas Remittance
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Explained: Why Credit Card Spends Overseas Won't Be Taxed At Source
While credit card spends overseas will not attract tax collected at source now as such transactions have been kept outside the liberalised remittance scheme, any international transaction conducted from India will attract the levy.
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Tax Hike On international Transactions (TCS) Pushed Back To October 1
The government on Wednesday said overseas spending using international credit cards will not be included under the Liberalised Remittance Scheme (LRS) and hence, would not attract TCS.
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Ministry's Clarification On Tax On Overseas Spending Through Credit Cards
The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards.
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Here's What Experts Say About Changes Made In LRS For Credit Cards
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the government clarified on Thursday.
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$100 Billion Received In Remittances From NRIs In 2022: Nirmala Sitharaman
Underlining the contribution of non-resident Indians, Union Finance Minister Nirmala Sitharaman on Tuesday said remittances sent to the country by overseas Indians were about USD 100 billion for the year 2022, an increase of 12 per cent in one year.
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Bitcoin Transfers Soar in El Salvador, but Still a Fraction of Dollar Remittances
Small transfers of Bitcoin to El Salvador jumped over four-fold in May from a year ago but still represent a small amount when compared to remittances sent in dollars.
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Finance Bill 2020 Proposes Amendment To Levy 5% Tax On Overseas Remittance
In a statement on Friday, the Ministry of Finance said, "The government imposed a tax collection at source (TCS), akin to TDS on remittances after an internal survey by the income tax department which showed that not only year-on-year more and more money is being sent under LRS but also a large number of those sending out money had not filed income...
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With $79 Billion In 2018, India Tops Global Remittances List: World Bank
India retained its position as the world's top recipient of remittances with overseas Indians sending a whopping $79 billion back home in 2018, the World Bank said in a report on Monday.
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City Union Bank CEO Says Suffered Cyber Hack Via SWIFT System
City Union Bank said on Sunday that "cyber criminals" had hacked its systems and transferred nearly $2 million through three unauthorised remittances to lenders overseas via the SWIFT financial platform
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Remittances By Indians Working Overseas Up By 68.6%: United Nations
India received the most overseas remittances last year, a report by the International Fund for Agricultural Development issued here on Tuesday said.
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India Received $34.9 Billion in Remittances Between April-September
Replying to a question in Rajya Sabha, Minister of State for Overseas Indian Affairs V K Singh said $34.9 billion was remitted to country from April to September.
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Limit on investing in overseas property to dampen sentiment: Jones Lang LaSalle
The Reserve Bank of India's curbs on Indians investing in international real estate under the liberalised remittance scheme will dampen investor sentiment, property consultancy firm Jones Lang LaSalle has said.
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Overseas remittances to India at record $63.6 bn: World Bank
Non-resident Indians (NRIs) have sent a record $63.6 bn to India in 2011 through remittances. According to the revised World Bank data, the increase in value of remittances is also due to a sharp fall in 2011 in the value of the rupee. In 2010, India received $54 bn. Since 2008, India has been the biggest recipient of of overseas money. China is c...
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Explained: Why Credit Card Spends Overseas Won't Be Taxed At Source
While credit card spends overseas will not attract tax collected at source now as such transactions have been kept outside the liberalised remittance scheme, any international transaction conducted from India will attract the levy.
-
Tax Hike On international Transactions (TCS) Pushed Back To October 1
The government on Wednesday said overseas spending using international credit cards will not be included under the Liberalised Remittance Scheme (LRS) and hence, would not attract TCS.
-
Ministry's Clarification On Tax On Overseas Spending Through Credit Cards
The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards.
-
Here's What Experts Say About Changes Made In LRS For Credit Cards
Tax Collected at Source (TCS) for spending through international credit cards under RBI's Liberalised Remittance Scheme on overseas tour packages and any other remittance (such as for bonds, shares, and real estate gifts) will be exempted within the annual limits of USD 250,000, the government clarified on Thursday.
-
$100 Billion Received In Remittances From NRIs In 2022: Nirmala Sitharaman
Underlining the contribution of non-resident Indians, Union Finance Minister Nirmala Sitharaman on Tuesday said remittances sent to the country by overseas Indians were about USD 100 billion for the year 2022, an increase of 12 per cent in one year.
-
Bitcoin Transfers Soar in El Salvador, but Still a Fraction of Dollar Remittances
Small transfers of Bitcoin to El Salvador jumped over four-fold in May from a year ago but still represent a small amount when compared to remittances sent in dollars.
-
Finance Bill 2020 Proposes Amendment To Levy 5% Tax On Overseas Remittance
In a statement on Friday, the Ministry of Finance said, "The government imposed a tax collection at source (TCS), akin to TDS on remittances after an internal survey by the income tax department which showed that not only year-on-year more and more money is being sent under LRS but also a large number of those sending out money had not filed income...
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With $79 Billion In 2018, India Tops Global Remittances List: World Bank
India retained its position as the world's top recipient of remittances with overseas Indians sending a whopping $79 billion back home in 2018, the World Bank said in a report on Monday.
-
City Union Bank CEO Says Suffered Cyber Hack Via SWIFT System
City Union Bank said on Sunday that "cyber criminals" had hacked its systems and transferred nearly $2 million through three unauthorised remittances to lenders overseas via the SWIFT financial platform
-
Remittances By Indians Working Overseas Up By 68.6%: United Nations
India received the most overseas remittances last year, a report by the International Fund for Agricultural Development issued here on Tuesday said.
-
India Received $34.9 Billion in Remittances Between April-September
Replying to a question in Rajya Sabha, Minister of State for Overseas Indian Affairs V K Singh said $34.9 billion was remitted to country from April to September.
-
Limit on investing in overseas property to dampen sentiment: Jones Lang LaSalle
The Reserve Bank of India's curbs on Indians investing in international real estate under the liberalised remittance scheme will dampen investor sentiment, property consultancy firm Jones Lang LaSalle has said.
-
Overseas remittances to India at record $63.6 bn: World Bank
Non-resident Indians (NRIs) have sent a record $63.6 bn to India in 2011 through remittances. According to the revised World Bank data, the increase in value of remittances is also due to a sharp fall in 2011 in the value of the rupee. In 2010, India received $54 bn. Since 2008, India has been the biggest recipient of of overseas money. China is c...
