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Overseas credit card spending will not face tax collected at source (TCS) as it will not be counted under the Liberalised Remittance Scheme (LRS), the finance ministry said on Wednesday. Overseas transfers up to ₹7 lakh under the scheme will also not face TCS. AC SPD
The board of the Securities and Exchange Board of India on Wednesday approved tighter disclosure rules for foreign portfolio investors (FPIs), to curb misuse of overseas investment routes and prevent violation of public shareholding regulations.
Adani Group on Wednesday sold shares in listed companies Adani Enterprises and Adani Green Energy in an open market transaction to raise ₹8,372 crore ($1 billion).
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