Mazars Tax Update | Edition 18.20
May 2020
This newsletter is a weekly compilation of most interesting and recent news related to tax.
This newsletter is a weekly compilation of most interesting and recent news related to tax.
TCS & TDS – Recent Changes
In the Budget 2020, various new TCS provisions (applicable w.e.f. 01/10/2020) were introduced which includes:
- TCS on foreign remittance through Liberalised Remittance Scheme (LRS)
- TCS on selling of overseas tour package
- TCS on sale of goods
We hereby analysing these inclusions along with summary chart of new rates (TCS & TDS) applicable for Financial Year 2020-21 which is updated with changes announced by Hon’ble Finance Minister on 13th May 2020.
