The budget has significantly improved diversification of investment options, simplifying holding periods and taxation, and simplifying understanding across asset classes for investors. Budget 2024 makes a key modification to overseas investments by giving TCS credit (paid at the time of LRS) for TDS deducted from wages. This reduces the tax burden by shortening return delays and preventing excess cash outflow. Girish Lathkar, Partner and CoFounder, Upwisery Private Wealth explains how Budget 2024 impacted TCS deduction while making overseas remittances with an example. After budget 2023, LRS regulations required TCS (tax collected at source) at the rate of 20% for any remittances done above Rs. 7 lakhs in a financial year. The overall LRS limit per individual stands at USD 250,000 (Rs. 2.07 crores approximately).