Taxcharcha
Income TaxLatest

Non applicability of TCS on foreign remittance by Non residents

non applicability of tcs

The Central Board of Direct Taxes (CBDT) have issued the Notification No. 20/2022 in which it has been stated that the provisions of section 206C(1G) shall not apply to an individual who is not a resident in India in terms of clause (1) and clause (1A) of section 6 of the Act.

Section 206C(1G) deals with the TCS on the remittance made under the Liberalized Remittance Scheme and TCS made towards Overseas Tour Program Package.

To view and download the Notification, click here

Related posts

Accounting standards for Local Bodies (ASLB) issued by ICAI

Team Taxcharcha

Due date for GSTR 3B for April 2022 extended

Team Taxcharcha

MCA notifies changes in the Indian Accounting Standards

Team Taxcharcha