Neha Nagar Instagram – Save money on your foreign travel
From 1 Oct 2023, the government has increased the Tax Collected at Source (TCS) on foreign tour packages valued over 7 lakhs from 5% to 20%. To avoid this higher tax:
1. Book flights, hotels, and activities separately instead of as a package.
2. Use credit cards for bookings to potentially avoid higher TCS.
3. If TCS is applied, you can claim a refund when filing your Income Tax Return (ITR).
For additional savings:
– File your ITR using a MasterCard credit card for benefits like 45-day interest-free periods and easy EMI conversions.
– Use MasterCard on ClearTax for an extra 5% off on ITR filing.
Remember, the ITR filing deadline is approaching. So File you ITR now!
#Tax #itr #travel | Posted on 28/Jul/2024 17:01:22
