Monthly Archives: June 2023

Government Extends Implementation date for Revised TCS Rates and inclusion of Credit Card Payments in LRS

Posted on June 30, 2023

Certain changes were announced to the system of TCS on payments under the LRS and on overseas tour program packages. These were to take effect from 1 July 2023. The government had also notified Foreign Exchange Management (Current Account Transactions) … Continue reading →

Posted in Regulatory |

CBDT Incorporates Majority Rule to Address Split in Advance Rulings

Posted on June 14, 2023

Central Board of Direct Taxes (CBDT) vide Notification No. 38/2023 dated 12th June, 2023 amends the e-Advance Rulings Scheme, 2022(Scheme), substitutes clause (iv) in Para 6(C) of the Scheme with new clause (iv) and inserts clause (v) in Para 6(C) … Continue reading →

Posted in Direct Tax |