Increasing rate of TCS of certain remittances

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..... ides for TCS on foreign remittance through the Liberalised Remittance Scheme and on sale of overseas tour package. 2. In order to increase TCS on certain foreign remittances and on sale of overseas tour packages, amendment is proposed in sub-section (1G) of section 206C of the Act. 3. The current and proposed TCS rates are tabulated as under: S. No Type .....

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..... any threshold limit. (iv) Any other case 5% of the amount or the aggregate of the amounts in excess of Rs. 7 lakh. 20% without any threshold limit. * In the table above, the present rate and the proposed rate of TCS are on the amount or the aggregate of the amounts being remitted by the buyer in a fina .....

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