TCS LRS scheme on above 7 lakh foreign travel spend
Is not likely to work. How will the banks track transaction across credit cards or debit cards ? If a customer has multiple cards , how are banks suppose to track when 7 lakh limits are breached , are we going to have all transactions and cards linked to PAN and Aadhar ? This 20% TCS is a tax overkill.
The Govt should just retract it and say we will come back to it later.
Please know the ones wjo evade taxes aren’t even going to spend even 2 lakh on credit card let alone 7 lakh. Its the middle class that you will be squeezing in the process. more
The Govt should just retract it and say we will come back to it later.
Please know the ones wjo evade taxes aren’t even going to spend even 2 lakh on credit card let alone 7 lakh. Its the middle class that you will be squeezing in the process. more
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First Politicians and Bureaucrats must be made to pay taxes and their Pension must be withdrawn. Then they will face the real issue. more
Jul 10
TCS is half cooked . if you spend INR and bhutan by credit card some banks will put a hefty mark up and will treat this a foreign exchange transaction . Banks are cheating by saying foreign exchange was used . IDFC is a crook and for that matter any product advertised by amitabh are cheats more
Jun 26
double edged sword! one side i am suffering from too many taxes and corruption; on the other side, the money extracted from me is to a great extent squandered. i regret more
Jun 26
