Inputs From: Vanita Ojha, Investment Consultant
- In LRS (except for education and medical treatment), the TCS is now 20% from earlier applicable 5%. Earlier TCS was charged if amount of LRS was more than 7 lacs but Now applicable on any amount. This is applicable from 1 July 2023.
- Any income received by way of interest on listed debentures will now be subject to TDS. Earlier there was a specific exemption under which TDS was exempted on payment of interest on listed dentures to a resident. This exemption has now been withdrawn.