Tax collected at source rates set at 2% for sales of certain goods, LRS education/medical remittances, and overseas tour packages. Section 394 is amended to set TCS at 2% for sales of alcoholic liquor for human consumption, tendu leaves, scrap, and specified minerals; to reduce TCS on Liberalised Remittance Scheme remittances for education and medical purposes to 2%; and to remove the Rs. 10 lakh threshold so TCS on overseas tour program packages applies at 2% irrespective of amount, effective 1 April 2026.
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Provisions expressly mentioned in the judgment/order text.
Tax collected at source rates set at 2% for sales of certain goods, LRS education/medical remittances, and overseas tour packages.
Section 394 is amended to set TCS at 2% for sales of alcoholic liquor for human consumption, tendu leaves, scrap, and specified minerals; to reduce TCS on Liberalised Remittance Scheme remittances for education and medical purposes to 2%; and to remove the Rs. 10 lakh threshold so TCS on overseas tour program packages applies at 2% irrespective of amount, effective 1 April 2026.
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