Is There Any Tax on Foreign Remittance

Are you planning to send money abroad but unsure about the tax implications? With frequent changes in taxation policies, it's crucial to stay informed about Tax Collected at Source (TCS) on Foreign Remittance under RBI’s Liberalised Remittance Scheme (LRS). In this video, we simplify the latest tax rules on foreign remittances, including the Budget 2025 updates, the latest TCS rates, and compliance requirements. 🚀 What You Will Learn: 🔹 What is the LRS limit? 🔹 What is the TCS limit? 🔹 Why is TCS compliance required? 🔹 What are the TCS rates? 🔹 How to check applicable TCS? 🔹 Is TCS applicable to NRIs? 00:00 Intro 00:16 What is LRS Limit 01: 15 What is TCS Limit 02:29 Why TCS Compliance ? 04:10 What are TCS Rates ? 04:51 How to check TCS 05:10 Whether TCS applicable on NRI ? 📢 Key Budget 2025 Updates: ✔️ TCS threshold on LRS remittances increased from ₹7 lakh to ₹10 lakh. ✔️ No TCS on education-related remittances funded by a loan from a recognized financial institution. ✔️ Awaiting RBI notification—expected to take effect from April 2025. 📚 Related Blogs: 👉 TCS on Foreign Remittance : https://taxguru.in/income-tax/tax-col... 👉 TCS Applicability & Exemptions : https://taxguru.in/income-tax/tcs-ind... 👉 Budget 2025 TDS/TCS Provisions : https://taxguru.in/income-tax/analysi... 💡 Stay Updated with Tax News! 📩 Subscribe to our free daily newsletter: Click Here 📚 Order books from TaxGuru: Shop Now 🔗 Follow TaxGuru on Social Media: 💼 LinkedIn: TaxGuru 📷 Instagram: @taxguruin 📢 Disclaimer: This video is for educational purposes only and should not be considered professional tax or legal advice. Consult a qualified tax advisor for personalized guidance. #ForeignRemittance #TCS #LRS #TaxOnRemittance #Budget2025 #TCSonLRS #IncomeTaxIndia #TCSApplicability #NRITaxation #Finance #TaxUpdates #TaxGuru