From October 1, that is next month, new TCS rules will apply. Which means, forex cards will attract TCS at 20% if you load over 7 lakh rupees on the card in a financial year. So, your overseas travel will get a bit expensive. At present the TCS on forex cards is at 5% if the amount exceeds the threshold limit of Rs 7 lakh. But there is no TCS on international credit cards. So, you may be thinking now that if this is the case, I will just use a credit card during my trip abroad and save money? Well, that might not be the case. Pallavi Sharma tells you why.
#tcs #tcsrates #forexcard #creditcard #etnow #etnownews
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