Our efforts have worked on LRS credit card
The Govt has postponed the LRS 20% deduction on international travel spends to Oct 1st and take it from me in writing they wont do it so close to election so it will go to next July.
Attached their press note etc.
Keep up the discussions and surveys and pressure friends!! Good job LC manager more
Attached their press note etc.
Keep up the discussions and surveys and pressure friends!! Good job LC manager more
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I do not understand how many taxes the government will bring in. Unearth all the black money from all politicians and business people, then taxing citizens will become unwarranted. Enforce strict compliance of system which will arrest the parallel economy. more
Jul 03
This is purely an indicator of whimsical thought. People (may be a small section) are now a days travelling frequently to overseas countries for diverse reasons, not for personal charity. It's the dire need of the time to do business, exchange of ideas including technology transfer and medical treatment etc. Now taxing so much on each trip will cost dearly to an individual. May be there will be an opportunity to have more revenues out of it but such measures may have a negative impact also that may cost more. more
Jun 29
Sorry to bust the myth. They have delayed the levy of TCS from 1st July to 1st October 2023 as the banks systems were not ready to manage or administer this. This could have proved to be a catostrophe as banks would have started levying TCS on every spend as they wouldnt want to go foul with tax authorities. Sensing the backlash this could have, the RBI prevailed on the Ministry of Finance /CBDT to defer the implementation. However, getting the banks system ready by 1st October also seems a little difficult. My personal view is that this TCS is a retrograde decision thought out by some very impractical bureaucrats. It should be completely scrapped as it is not only an unnecessary compliance, it is also not helping in the ease of doing things which this government keeps bragging about. It hurts things like education and medical spends which is nothing short of a criminal act. Whether it will have an impact on elections is questionable as the people who travel overseas form a very limited section of society. This government has generally been very headstrong in implementing things without a proper thought. Since most of the officcers/politicians in power are highly conceited and full of pride/ego, it takes a lot for them to sensibly reconsider anything till one of them or their kith and kin gets badly affected in the process. So I am not very hopeful that TCS will be stayed or put away for elections. Everyone who questions this, will be classified as anti-national. more
Jun 29
All the Taxes are foolish. But thee is no free lunch. Is it not a foolish idea to enjoy all privilege's at others cost. There are other foolish REVARIS distributed at our expenses. They should be condemned. more
Jun 29
