TCS on International Credit card payments | CA Yogesh Katariya

[@InvestYadnya]

🚨🚨🚨Big Update! Payments by an individual using their international Debit and or Credit Cards up to 7 Lakh per FY will be excluded from the LRS limits and hence will not attract any TCS upto 7 lakhs. This has been clarified by Ministry of Finance by issuing clarification on 19th May 2023.

[@mranalrs3607]

If we have 2 cards for instance from. Different. Banks, will i have 14 lakhs limit? (7lakh *2 cards)

[@shridharshenoy1859]

Hence proved, if you want to live in India then you should be either poor who survives on subsidy or rich business man with a lot of black money. If you are middle class then try to move out of India. Not worth paying taxes to useless government like this.

[@nitinKumar-vm7gz]

My Vote against this tax next year. I will throw them out. Its a joke to implement these changes.

[@Harshkumar-hh5vh]

ं

[@vijaymaddula7009]

We can claim it back while filing the income tax

[@Ash-ji7bq]

@@vijaymaddula7009 How would you feel if someone told you that they will take 20% of what you spend abroad and then give it back to you 1-2 years later, without paying you any interest. This is how long it takes to get a refund.

[@srinivassahu9597]

You can show to company .. every month your tax will be reduced.. no need to wait for 1 year

[@nitinKumar-vm7gz]

@@srinivassahu9597 Are you delusional. Accounts dept. Will never reduce tax due to this TDS.

[@rohitparnerkar]

another blunder from nirmala tai. how can goverment let such a incompetent person run finance ministary. Remember her first budget which had to be all undone.

[@NehaBishnoi-d8j]

Nice teaching skills , very polite and humble 😊🤩🥰

[@sanjeetgiani471]

Tax terrorism by this ... GOVT

[@dbminor9694]

This *government* is completely *illogical* and *erratic*

[@evilmanoseth]

Ye sarkar pagal hogayi h..

[@LuckyBombay]

I am laughing now at all those people who were getting happy that Indian rupee will now be accepted at foreign airports and countries 😂😂😂

[@ayan.debnath]

Sir, I am web-developer. I need to buy themes, plugins, server etc. (mainly in USD) using my Credit Card. Will there be tax?!!

[@dhavalchheda1626]

Yes if you are using personal credit card

[@aum8136]

If you are claiming it as a business then no, if as an individual then yes

[@ayan.debnath]

@@aum8136 Individual. Tax the business.... why make individual more poor!

[@aum8136]

@@ayan.debnath rich gets richer poor gets poorer 😊

[@ayan.debnath]

@@aum8136 ALL kind of taxes on us ONLY!

[@Serenesoundscapes2023]

What about the claim process at the end of the financial year ? Will it automatically offset the tax to be paid or we have to show some proofs ?

[@CAYOGESHKATARIYA]

This TCS is equivalent to TDS, it will get adjusted against our Tax Liability and balance will get refunded after filling ITR..

[@sachinsrsh]

U have to claim for refund

[@AnkitSingh01]

Sir u told about credit card, but if i buy anything in usd from my debit card then, how much tcs?

[@PradeepGaur-v6p]

Sir What about transactions 7 lakh limit?? Can I use my credit card till 7 lakh for making international purchases sitting in india??

[@SunnySingh-b6x]

Hi Sirji, what if we are using AWS cloud services online, usme kya impact aayenga

[@PushpDevNarayan-bi7po]

Excellent information sir

[@fariqjamil1152]

Ek saal Tak Paisa bhi rakhegi aur uspe koi byaaj bhi ni waah Modi Modi ji waah

[@shivangikhandelwal7348]

Sir is this applicable on Corporate International Credit Cards as well?

[@sachinsrsh]

Yes

[@pranaballavjena458]

That exemption of 7 lacs is still there for TCS in FY. ?

[@beast.k3]

No

[@raah06]

Yes

[@sachinsrsh]

Yes

[@nikhilchandwani5378]

Is exemption of rs7lacs still there

[@sachinsrsh]

Yes

[@nsp1234]

If a foreigner use international card in india, are those transactions also subjected to TCS?

[@sachinsrsh]

Check ur country tax regulations

[@LuckyBombay]

Hatao re Narinder ko.😂😂😂

[@mitulsat]

Hello Sir, does this apply to NRIs as well using NRE accounts to remit money back to foreign country ?

[@aum8136]

are you remitting money using credit card?

[@mitulsat]

@@aum8136 no. Bank transfer via nre account.

[@CAYOGESHKATARIYA]

No, LRS apply only to Residents. NRI need not have to worry..

[@mitulsat]

@CA Yogesh Katariya thank you Yogesh Sir !

[@sachinsrsh]

Not applicable for NRI

[@eBerries]

But TCS 20% will apply after 7 lac limit crossed Right ?

[@saurabhkanojia5680]

No limit has been abolished now

[@sachinsrsh]

Yes after threshold limit of 7 lacs

[@Khnvlogs]

Sir agar me india se koi flight book karta hu kisi bhe website se jese make my trip ya ibibo international flight to kya uspe bhe 20% lagega?

[@CAYOGESHKATARIYA]

No

[@ankitbansal5122]

If i spent money abroad if i am on a visit then also i will be charged ?

[@md.abdulfaisal6739]

Yes

[@CAYOGESHKATARIYA]

Yes

[@bullrunbtccmc]

Wow modi wow.... His power is hindu Muslim war and nothing else

[@sachinsrsh]

If u cross threshold limit of 7 lacs yearly

[@srinivassahu9597]

Yiu are giving half information.. didnt say snything about claim .. who it impact on our total tax ..

[@CAYOGESHKATARIYA]

It’s like our TDS .. Will get adjusted against existing tax liability , if any, and balance will be refunded..

[@CAYOGESHKATARIYA]

Will try to make a video on that also, thanks for driving our attention to that point..

[@prakashth]

Karnataka repeat people, no other choice for middle class

[@PS-vg7fl]

Modi sab adaani ko de dega bhagao

[@queeniegonsalves417]

First to view

[@skumarbharat3240]

यार ठीक ही लोग टॅक्स के कारण इंडिया छोड रहे हैं