https://www.taxtmi.com/article/detailed?id=16541 Tax collection at source under section 206C(1G) on foreign remittances and foreign spending under the Liberalised Remittance Scheme has been revised through amendments and administrative responses. The article states that deletion of Rule 7 of the FEMA (Current Account Transaction) Rules, 2000 would extend TCS to foreign spending through international credit cards, while debit cards and travel cards continue to attract TCS. It further notes a CBDT exemption for international spending up to Rs 7 lakh from TCS at 2%. en-us Mon, 01 Jun 2026 08:26:48 +0530 Mon, 01 Jun 2026 08:26:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16541 Tax collection at source under section 206C(1G) on foreign remittances and foreign spending under the Liberalised Remittance Scheme has been revised through amendments and administrative responses. The article states that deletion of Rule 7 of the FEMA (Current Account Transaction) Rules, 2000 would extend TCS to foreign spending through international credit cards, while debit cards and travel cards continue to attract TCS. It further notes a CBDT exemption for international spending up to Rs 7 lakh from TCS at 2%. Articles Income Tax Mon, 01 Jun 2026 08:26:48 +0530 https://www.taxtmi.com/article/detailed?id=16541