Tag Archives: President

TCS for overseas tour packages above ₹50 lakh increased from 5% to 20% in Budget 2023-24

In the Union Budget 2023, it was announced that the government has increased Tax Collection at Source (TCS) for overseas packages from 5%to 20%. Riaz Munshi, President, OTOAI, says that instead of reducing the TCS, it has been increased and it will hamper the business. Rajeev Sabharwal  (CA), Chief Executive, Gaurav Travels, says outbound industry should oppose this move.

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‘Inter-ministerial board with state govts can resolve adventure tourism issues in India’: Ajeet Bajaj

Ajeet Bajaj, President, ATOAI, has said that setting up the National Board for Adventure Tourism by the Ministry of Tourism, Government of India, is a welcome step, “We have already had two board meetings and are gaining momentum. This inter-ministerial board with state governments’ participation will help resolve many issues pertaining to adventure tourism in India.”

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