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TMI BlogTCS on remittance out of India and on overseas tour programme package [ Section 206C(1G) ]X X X X Extracts X X X X X X X X Extracts X X X X ..... ised dealer, who receives an amount, for remittance out of India [Omitted by FA, 2023, w.e.f., 01-07-2023] from a buyer, being a person remitting such amount out of India [Omitted by FA, 2023, w.e.f., 01-07-2023] under the Liberalised Remittance Scheme of the Reserve Bank of India; * (b) being a seller of an overseas tour programme package, who receives any amount from a buyer, being the person ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll collect a sum equal to 0.5% of the amount or aggregate of the amounts in excess of ₹ 7,00,000 remitted by the buyer in a financial year, if the amount being remitted out is a loan obtained from any financial institution as defined in section 80E, for the purpose of pursuing any education: Where no tax is to be collected at source: * (a) The authorised dealer shall not collect the sum, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... authority as defined in the Explanation of section 10(20) or any other person as the Central Government may, by notification in the Official Gazette, specify for this purpose, subject to such conditions as may be specified therein. Meaning of specified term * (i) "authorised dealer" means a person authorised by the Reserve Bank of India under section 10(1) of the Foreign Exchange Management Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es not have a permanent establishment in India. [ Circular no. 99/2022 dated 17.08.2022 ]
* The Central Government hereby notifies that the provisions of section 206C(1G) shall not apply to an individual who is not a resident in India in terms of clause (1) and clause (1A) of section 6 of the Act, and who is visiting India. [ Circular no. 20/2022 dated 30.03.2022 ] X X X X Extracts X X X X X X X X Extracts X X X X
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