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India has made substantial strides in promoting foreign exchange transactions by introducing the Liberalised Remittance Scheme (LRS). This allows Indian residents to send money overseas for various purposes. However, recent changes to the Tax Collection at Source (TCS) regime have raised concerns among stakeholders and required clarification. Additionally, there have been modifications to the angel tax regime for start-ups, increasing the importance of valuation criteria for foreign investors. Government, businesses and individuals must understand these changes and ensure compliance.
In this context, Grant Thornton Bharat, in association with the Indo‐American Chamber of Commerce (IACC) is organising a live briefing session on TCS on foreign remittances/expenses and angel tax valuation for start-ups from a FEMA and tax perspective. Experts from the industry will discuss the changes and how they affect the Indian taxation ecosystem.
