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Tcs on foreign payment

New provision of tcs introduced in budget 2020 shall be effective from 1st October 2020


Any payment exceeding 7 lacs need to undergo this procedure


Ad code bank shall collect additional 5% tcs from remitter and deposit in the pan of remmiter


This is major change with respect to rbi liberalized scheme and will bring more transparency to income tax department.


It will have significant impact on business working capital who avail services out of India and make outward remittance


Mitul Pujara


Pujara and Co

320, Shivalik Satyamev, Sardar Patel Ring Rd, Bopal, Ahmedabad, Gujarat 380058






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Pujara and Co​


Tel: 9016875077
Email: camitulpujara@gmail.com
Address: 320, Shivalik Satyamev, Above Bopal Mc Donald, Sardar Patel Ring Road Bopal Ahmedabad, Gujarat 380058

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