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20% TCS On International Credit Card Spends: The How, What, Why Answered! | Experts' Take

TCS on international credit card spend means that your transactions made while on a foreign trip will attract a 20% TCS. Does this increase the Tax compliance burden for individual travellers, Yes! Will it increase your upfront international travel cost, Yes! So why has the govt decided to include credit cards under LRS and how should one go about claiming their TCS? We try to answer a few of those questions with experts DEEPAK SHENOY, Founder & CEO, Capitalmind and and RAVISUTANJANI KUMAR, Fintech influencer.

first published: May 19, 2023 12:58 pm