Friday, 1 April 2022

CBDT exempts non-resident individuals visiting India from tax collection on LRS remittance and overseas tour program package

 This Tax Alert explains Notification dated 30 March 2022  issued by the CBDT which exempts individuals, not resident in India (NR) as per the provisions of Income Tax Laws and visiting India, from tax collection at source (TCS) on foreign remittances made under Liberalized Remittance Scheme (LRS) and for purchase of overseas tour program package (OTPP).

-

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Section 56(2)(ix): Forfeiture of Advance Money Received – A Critical Analysis

The Dual Conditions for Taxability Section 56(2)(ix) of the Income Tax Act imposes tax liability on sums received as advance or otherwise du...