November 28, 2023
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All you need to know about the New TCS Guidelines on Foreign Exchange
The changes in Tax Collected at Source (TCS) provision under section 206C (1G) of the Income Tax Act on Foreign Remittances has been implemented. TCS is not an additional tax liability, but an advance tax. TCS collected by the seller is reflected in the individual’s Form 26 AS and it can be offset against their total […]