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Transfer Money Abroad: Know the Options Before we proceed to understand options for sending money abroad, it is important to note that overseas money transfers come under the administration of the Reserve Bank of India (RBI) via the Liberalised Remittance Scheme (LRS). This scheme is applicable to all Indian residents and permits them to send
TCS Rates on Education Preparing to study abroad in another country is very exciting, but it also means you have to think a lot about your financial needs and the tax (TCS) involved. The TCS rate for sending money abroad has changed, making it all the more vital for you to understand TCS. Under the
Understanding the TCS on Foreign Remittance Transactions TCS stands for “Tax Collected at Source”. It is a charge levied against the person by the authorised dealer or bank transferring money abroad. The main aim of this provision is to track remittances, create a link to the income tax returns of those making them, and prevent
