TCS on Foreign Payments #tcs #taxcollectedatsource

TCS on Foreign Payments

Is TCS applicable on all foreign payments ?

Is there any threshold for TCS on foreign payments ?

What is the new rate of TCS on foreign payments ?

What are the new rules of applicability of TCS on credit card ?

We are seeing lot of confusion regarding the tax collection at source recently. There has been announcement in the TCS rate in the budget 2023 which is effective from 1st July, 2023. Updated provisions with regard to TCS on foreign payments have been discussed in this very informative video.

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