Investing

Understanding TCS on Foreign Remittance

In latest news for investors putting their money in global stock markets, fresh amendments have been introduced to the Finance Bill, 2020. A new provision, under the Liberalised Remittance Scheme (LRS), will come into effect from 1st October 2020, and it would levy a TCS (Tax Collected at Source) at a rate of 5%. This would affect incoming fund transfers to your international investment account and the rate would be