New Delhi, Aug. 13 -- If you are remitting over Rs.6 lakh overseas, then it is likely to come under the purview of income tax as Central Board of Direct Taxes (CBDT) has reportedly commenced a thorough investigation into high value foreign remittances above Rs.6 lakh, Business Standard reported.

The apex body of direct taxes is reportedly cracking down on foreign remittances to spot the discrepancies between what the taxpayers reveal and the actual data shows, said the report.

This brings into focus the rate of higher TCS (tax collected at source) imposed by finance ministry on high value remittances effective last year.

It is noteworthy that the finance ministry rolled out changes with respect to tax collected at source (TCS) last yea...