Planning an international trip? How 20% TCS from next month will impact your foreign travel plans
A new rule from 1 October 2023 levies a 20% tax on all transactions made abroad, increasing expenses for international travelers
If you are planning an international trip in October, then be ready to loosen your purse strings more. This is because the new rule levying 20% tax collected at source (TCS) will kick in from 1 October 2023. This applies not only to foreign trips but to every transaction you make abroad via whatever method.