No TCS on foreign remittances of up to Rs 7 lakh in a financial year: Finance Ministry

Under LRS, an individual can remit up to $250,000 in a financial year. TCS is applicable on all foreign remittance transactions that come under LRS. However, the rates of TCS vary depending on the nature of transaction

from Tax-Wealth-Economic Times https://ift.tt/6Jeq8tz