Glad LC manager took this up and we made lots of noise on various platforms including LC and the Govt has announced action (attached) that those spending under 7L per year abroad wont be subjected to this. But how will this limit be enforced. I spend 6.9 lac on one CC and then start using another CC how does bank/vendor know I am about to breach LRS limit and should pay 20% TCS on any spend greater than 10K? more
Tracking any spend through a card or multiple cards is a very easy thing. Why banks, even third parties have access to such information. That is why, teh whole idea of a TCS on foreign spends is devoid of any logic. I would advice against getting innovative and using multiple cards as that is foolhardy. The bank has enough time and opportunity to recover TCS from you if they want. In fact, an automated system will do that. more
govt is taxing salarid and middleclass in return nothing given , they are giving freeb,s to bpl for vote . govt is not able to get taxes from doctor running private practice ,surgeons , nushing homes who are sucking blood . private schools, private medical colleges taking crores os ruppees taking capitation fees. pleaders/lawers politicial doctors never show their income for tax more
The number of doctors who earn slush money or private schools etc is rather limited. The government generally knows about most of these cases. The government can tackle these people if it wants to. The issue is that they will not act as most of them have bought the loyalties of the party in power. more
TCS is a retrograde step. Taxing the expenditure from our already taxed income amounts to double taxation which against fundamental principles. This needs to challenged before SC more
LocalCircles has been doing phenomenal work in the area of aviation reforms. In fact its the only hones public voice out there. Even many newspapers dont cover public issues with airlines.
Several users have reported being able to view other customers' ICICI Bank credit cards on their iMobile app. Since the full card number, expiry date, and CVV are visible on iMobile, and one can ma...
Super excellent work LC and great to see this clip I received in one of the groups of LocalCircles work getting recognised on the issue on NDTV. Children under 12 now have to be seated with parents...
The RBI has directed Kotak Mahindra Bank to cease and desist, with immediate effect, from (i) onboarding of new customers through its online and mobile banking channels and (ii) issuing fresh credi...
Please read and share the post link with all your WhatsApp groups friends. Especially senior citizens and teenagers 1) Urgency for Medical or Police Cases Parents receive a ca...
Last week it was reported in media that nestle has been adding sugar in baby formulae which likely led to many of these babies liking sugar and needing sugar as the grew into toddlers and then even...
Due to India's increasing debt, you will pay higher taxes. Our debt:- 2014: 54 lakh crore 2023: 205 lakh crore People are doing politics around this data. But, he...
Are you paying rent in cash? My friend Rajiv did the same last financial year. (And was shocked) He paid Rs.20,000 as rent every month. Half in cash, half via online transfer....
Your efforts LC Manager on creating awareness about instant loan extortion and malpractices is working RBI finally says all personal loans will, from Oct 2024, need to carry a Key Financ...
VIP culture is still a major issue in india. The latest move of no free pass for VIPs at tolls is a good move and instead they claim reimbursement makes sense. But what is being done abo...
A month or two back the Hindu newspaper had reported the LocalCircles survey on plight of travellers with airline baggage handling. On google of baggage survey LocalCircles I found the circle repor...
By Reeta Kumar
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