No TCS (Tax Collected at Source) is applicable for transactions below 7 lakhs INR. However, a 5% TCS is levied when an authorized dealer facilitates the transfer of 7 lakhs INR or more from India to a foreign destination.
If you initiate a payment after 2:30 PM, the funds won't be transferred on the same day. Instead, the payment process will be completed on the following day.
No TCS (Tax Collected at Source) is applicable for transactions below 7 lakhs INR. However, a 5% TCS is levied when an authorized dealer facilitates the transfer of 7 lakhs INR or more from India to a foreign destination.
If you initiate a payment after 2:30 PM, the funds won't be transferred on the same day. Instead, the payment process will be completed on the following day.
