Category: Finance
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Sending Gift Money To Australia From India – A Complete Guide
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The Indian community in Australia is incredibly diverse and vibrant, with people from different linguistic and cultural backgrounds. They have made contributions to society in fields like business, academia, the arts and sports. Lately, they have also become more involved in activities, with many governments holding offices and actively engaging in community matters. The amount…
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Understanding the TCS Threshold Limits On International Remittances
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Tax Collected at Source (TCS) refers to a tax that is collected by an entity for making payments, such as a bank or a forex company. This tax is then deposited with the government on behalf of the payee. TCS applies to a variety of transactions, including foreign remittances. In India, there is a limit…
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Refund Of TCS On International Remittance – The What & How!
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Overview of TCS In the Union Budget that Finance Minister Nirmala Sitharaman presented in February 2023, there were some changes related to finance. One key addition was the introduction of the New Tax Regime and another significant development was the implementation of Tax Collected at Source (TCS) for transactions. Section 206C of the Income Tax…
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All You Need To Know About PAN & Aadhar Linking
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In the realm of identity, individuals who are applying for a new PAN Card can conveniently link it with their Aadhaar Card automatically. For those who already possess PAN Cards issued prior to July 1, 2017, they now need to link the two cards using the Link Aadhaar service, which is open to all individual…
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All You Need To Know About TCS On International Money Transfers
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Overview of TCS and LRS TCS, which stands for Tax Collected at Source, refers to the tax collected by the government when a payment is made. When it comes to foreign remittances, banks or other financial institutions that facilitate the remittance are responsible for collecting TCS. On the other hand, the Liberalized Remittance Scheme (LRS)…
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Sending Gift Money To Dubai From India – All You Need To Know
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India is home to the largest diaspora in the world, with a number of Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) residing outside the country’s borders. According to data from the Ministry of External Affairs, this diaspora consists of 32 million individuals. Among the destinations for expats, the United Arab Emirates (UAE), particularly…
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Reliable Method Of Remitting Living Expenses to Dubai From India
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In today’s interconnected world, it’s crucial to consider how to manage your finances when you reside in one country but have commitments or expenses in another, particularly when there is a disparity in living costs, such as between Dubai and India. Living in Dubai is considerably more expensive, with a cost of living index of…
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Everything You Should Know About Sending Living Expenses From India To Australia
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Remittances from India to Australia serve as support for families back in Australia, assisting them with necessities such as education and healthcare. Over the years, there has been a rise in digital transfers, with transactions projected to reach $2.42 billion by 2023 and grow further to $2.79 billion by 2027, benefiting around 0.7 million users.…
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Guide To Sending Living Expenses From India To Europe
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Europe boasts a rich history and culture, with its economic prowess reflected in a staggering GDP exceeding $17.4 Trillion. The European Union (EU) stands as an economic alliance comprising 27 member nations. Within this union lies a market enabling the flow of goods, services, capital and even people across borders. Notably, Europe has attracted around…