News-Update

News-Update
Niyo Card
• 15 NOV, 2023
TCS on International Spends: Updates for Indians on Niyo Cards
TCS (Tax Collected at Source) is a way for the government to collect taxes upfront on certain transactions, including international spends. It is a small fee that is collected by the bank on behalf of the government when you spend more than a certain amount on international transactions. The good news is that you can claim a TCS refund for any excess tax paid when you file your income tax returns.
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