Liberalized Remittance Scheme - New tax changes in India

[dreammapletree]

Hi,

How are the new rules, effective July 1, 2023, going to affect the LRS transfer for Canada PR holders? Do the PR holders also need to pay 20% TCS?

 

[iSaidGoodDay]

Hi,

How are the new rules, effective July 1, 2023, going to affect the LRS transfer for Canada PR holders? Do the PR holders also need to pay 20% TCS?

As a newcomer PR, for me it is an extremely annoying and a botched policy release. But, if you are someone who has been outside of India for more than 6 months, you'll be considered NRI and subsequently no TCS.