Tag: managing finances
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A Complete Understanding of How to Transfer Gift Money from India to Europe
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In Europe, cross-border payment methods are rapidly evolving, with a tendency towards digital transfers, according to a Visa study. In 2023, more and more European consumers are opting for apps and online platforms to securely and conveniently send money to their friends and family. This shift is particularly noticeable in France and Poland, where 62%…
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Best Ways To Transfer Gift Money To New Zealand From India
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In the heart of New Zealand’s economy, which heavily relies on trade, foreign remittances have become essential. These remittances connect over a million New Zealanders who received a total of NZ$2 billion in the year. The majority of these funds are intended for supporting family members, education, healthcare and even business investments. As digital technology…
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A Step-By-Step Guide For Remitting Gift Money To UK From India
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India is home to the largest number of people living abroad, with around 3.2 million Non-Resident Indians (NRIs) and People of Indian Origin (PIOs). In the UK, there are 1.92 million individuals who are multicultural, which makes them a significant part of the population. This community plays a crucial role in contributing to the UK’s…
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Sending Gift Money To Australia From India – A Complete Guide
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The Indian community in Australia is incredibly diverse and vibrant, with people from different linguistic and cultural backgrounds. They have made contributions to society in fields like business, academia, the arts and sports. Lately, they have also become more involved in activities, with many governments holding offices and actively engaging in community matters. The amount…
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Understanding the TCS Threshold Limits On International Remittances
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TCS stands for Tax Collected at Source. This is a sort of duty or tax that gets collected by the entity making any sort of payment, banks, or even a forex company, and deposits it with the government on behalf of the payee. TCS would apply over a range of transactions, inclusive of foreign remittances.…
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Refund of TCS on International Remittance – The What & How!
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Overview of TCS Finance Minister Nirmala Sitharaman, while presenting the Union Budget in February 2023, had announced some changes. It included the addition of the New Tax Regime and another major introduction was that of the Tax Collected at Source, TCS on transactions. Section 206C of the Income Tax Act states on which goods sellers…
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Sending Gift Money To Dubai From India – All You Need To Know
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India is home to the largest diaspora in the world, with a number of Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) residing outside the country’s borders. According to data from the Ministry of External Affairs, this diaspora consists of 32 million individuals. Among the destinations for expats, the United Arab Emirates (UAE), particularly…
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Reliable Method Of Remitting Living Expenses to Dubai From India
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In today’s interconnected world, it’s crucial to consider how to manage your finances when you reside in one country but have commitments or expenses in another, particularly when there is a disparity in living costs, such as between Dubai and India. Living in Dubai is considerably more expensive, with a cost of living index of…
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Everything You Should Know About Sending Living Expenses From India To Australia
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Remittances from India to Australia serve as support for families back in Australia, assisting them with necessities such as education and healthcare. Over the years, there has been a rise in digital transfers, with transactions projected to reach $2.42 billion by 2023 and grow further to $2.79 billion by 2027, benefiting around 0.7 million users.…