Tax on foreign card spends: A bolt from the blue
May 19, 2023•6 min•Ep. 193
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Episode description
The government has brought credit cards under the Liberalised Remittance Scheme (LRS) from 1 July. Even a dollar of foreign spending will attract a 20% tax — a departure from the current 5% tax on spending of over ₹7 lakh (credit cards excluded). Mint's Neil Borate explains in this episode.
This episode is being hosted by Prasid Banerjee.
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