Minus education fees and health expenses, money sent abroad for any other purpose will now attract a steep 20% tax collected at source (TCS). The upfront payment can be recouped when you file your income tax returns. So, whether you send expense money to your child abroad, or buy a house overseas or opt for a foreign tour package or invest in global stocks and bonds, you will need to factor in the 20% TCS — a rule that could potentially impact your cash flows.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/g4Tq8SL
https://ift.tt/382fXJL
