Foreign Remittances
Planning to send money abroad? Here’s what taxpayers should know about new income tax forms 145 and 146
Indians sending money abroad for various purposes must comply with new income tax forms 145 and 146, replacing Forms 15CA and 15CB. Details here.
2 min read25 May 2026Are you sending money abroad in 2026? Check new Income Tax Forms 145 & 146 for foreign remittances and compliance
Sending money abroad in 2026 now demands stricter compliance with Form 145 and 146 for foreign remittances. India has streamlined disclosures, ensured accurate TDS and improved transparency for overseas payments.
2 min read30 Apr 2026TDS, TCS changes explained: What NRIs, students, travellers and investors should know in FY 2026
Starting 1 April 2026, new TDS and TCS rules aim to streamline tax processes, reducing errors and mismatches. Key changes include lower TCS rates, simplified property transactions for NRIs, and a unified TDS declaration form to ease taxpayers' paperwork.
2 min read14 Apr 2026Budget 2026 positions diaspora capital as a growth lever, not just a remittance stream
Budget 2026 nudges overseas Indian savings away from consumption-led remittances towards equity and real estate investments that can support capital formation and stabilize flows.
1 min read3 Feb 2026Trump’s crackdown on migrants: Will the American dream turn sour for Indians?
The Indian diaspora is huge. Crackdowns by foreign countries on migrants and policy shifts, as are underway in the US, will hurt them.
3 min read11 Jun 2025Ajit Ranade: India needs more sectors to be reliable dollar earners
Remittances and software exports get us a bulk of the foreign exchange we need to cover imports, but we must tap new opportunities, especially in under-exploited sectors like inbound tourism and education.
4 min read23 Dec 2024Mint Quick Edit | Celebrate remittances but cheapen them too
India has been the world’s top recipient of these transfers from abroad in 2024, with inflows of $129 billion. This money is helpful, but we must speed up our digital rupee project and push for global mechanisms that’ll make remittances faster and cheaper.
1 min read20 Dec 2024CBDT to initiate investigation into foreign remittances above ₹6 lakh: Report
The apex body of direct taxes i.e., CBDT is reportedly cracking down on foreign remittances to spot the discrepancies between what taxpayers reveal and the actual remittances.
1 min read13 Aug 2024What is tax collection at source on foreign remittances under LRS? An explainer
A higher tax collected at source (TCS) rate of 20 percent will be effective from Oct 1 on foreign remittances sent under the LRS. We share more details here
2 min read27 Jul 2023Foreign remittances: With 20% tax collection at source, sending money abroad to pinch more; details here
Tax payers are entitled to get the refund of their tax credit after they file their tax return. But those citizens who don’t file their returns stand to lose their money. Read further to know more
3 min read7 Feb 2023Wait for it…
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