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the partner bank, in accordance with RBI regulations. Jupiter itself is not a bank and doesn't hold or claim

My mom wants to send me gift (cash) to buy a house for myself here in Canada. In india, she will have to pay a gift tax because of the amount of money she is sending me. To avoid this gift tax, i was wondering if I can do the following: 1 - Open NRI account 2 - My Mom deposits the cash in my new NRI account 3 - I withdraw the deposited amount in Canada. My questions is - Is this a good idea? Will I still have to pay tax in Canada? Any other issues with this idea? If you could help answer this that would be AWESOME! Thannk you so much!
When it comes to sending money internationally, Western Union fees are considerably higher than other international money transfer providers. However, due to their solid reputation, many customers are happy to pay for these fees, comforted by the familiarity of the Western Union brand.
Payoneer has extensive reach, and it offers services in India, as well as over 195 countries with 100+ currencies. When making an international payment, users have the option of paying via a bank account or a credit card, respectively incurring a 1% or 3% fee. However, no fees are charged if money is sent from one Payoneer account to another and funded with a Payoneer balance.
Hi, can you tell what is the difference between money sent to NRI daughter or son by India Resident father through banking channel under the category of "maintenance" versus "gift". Does these two options mean same? currencies exchanges indian Did anyone who is citizen of England can send money to India


According to the Foreign Exchange Management Act (FEMA), taxes are not applicable if you send money to your children, spouse, parents, siblings, linear descendants or ascendants and siblings of your spouse. However, if you transfer funds to anyone outside these categories, there will be tax implications for amounts exceeding Rs.50,000.
When you send money to any person abroad in India, the first $15,000 USD will be exempt from taxes by the IRS under the Gift Tax policy. This limit is charged on a per-person basis -- if you would like to send $15,000 USD each to multiple persons, you will still be off the hook for any gift taxes.

When it comes to bank transfers from the US to India, Remitly, for example, offers some of the fastest transfers available, and with them you can expect money to arrive in your recipient's bank account in just a matter of minutes. For cash pickup transfers, Small World and Remitly are on average the quickest services, with cash also frequently being ready for pickup in India within minutes after payment has been made in the US.

^{International wire transfers can be made from virtually any bank and in many cases, online, via your bank's website. Additionally, you can also send an international wire using a non-bank transfer service-which is well-worth considering since these services typically charge lower fees than banks do.}
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As part of the security measures, Western Union has implemented Software Composition Analysis (SCA). This is a customer authentication security layer applied to both payment booking and account access and manipulation. It is part of the two-factor authentication (2FA) security protocol.

If you're a merchant or business customer, the benefits of offering PayPal payments may outweigh the fees you pay. But if you're making or receiving regular international transactions, you may want to compare PayPal to a few other providers which could offer lower fees and better exchange rates, with just as convenient and quick a service.

Once you have money in your PayPal account you may want to withdraw it to your regular Indian bank account or card. There may be a fee for this service, depending on exactly how you want to process the withdrawal. Here are the PayPal India withdrawal fees for consumer accounts:

The tax implications of transferring funds from a non-resident Indian (NRI) account depend on several factors, including the purpose of the transfer, the country where the NRI resides, and the tax laws of both countries. In general, NRIs are subject to tax on their worldwide income, including any income earned or received in India. This means that transferring funds from an NRI account in India to another country may be subject to tax in India.

Can My son who is currently studying in the US on a F1 Visa,gift me any amount he wants from his resident SB account in India.He is not yet a NRI. Will there be any gift or other tax applicable to both.He files Non resident 1040Nr-Ez returns in the US and normal resident IT returns in India
There is no recipient tax on money being transferred from abroad to India when it's being sent to blood relatives. In general, "blood relatives" -- including spouses, children and grandchildren, siblings or in-laws -- don't pay tax on any amount you send.

My father has a property (vacant land) under his name & he purchased this property in 2005 for Rs.10Lakh and now it's worth Rs.20 Cr. I am an NRI and I would like to understand what is the best option to minimise the tax / CGT.

whatusd to inr into pkr dollar to pakistani rupees today

If the amount you paid in tax to a foreign government is more than what you owe to the IRS, the most you'll be able to claim is the entirety of the US tax due. So, imagine you have a foreign investment in Denmark and you paid the Danish government $500 in taxes, but you owe $400 to the IRS as tax on the same amount.

According to the Foreign Exchange Management Act (FEMA), taxes are not applicable if you send money to your children, spouse, parents, siblings, linear descendants or ascendants and siblings of your spouse. However, if you transfer funds to anyone outside these categories, there will be tax implications for amounts exceeding Rs.50,000.
According to the Foreign Exchange Management Act (FEMA), taxes are not applicable if you send money to your children, spouse, parents, siblings, linear descendants or ascendants and siblings of your spouse. However, if you transfer funds to anyone outside these categories, there will be tax implications for amounts exceeding Rs.50,000.
Western Union is a US-based company that provides various ways to transfer money around the world. Starting out in 1851 as a communications company specialising in telegraph-related services, in 2006 Western Union decided to concentrate their efforts on money transfers. Since then, the provider has gone from strength to strength, becoming one of the biggest remittance companies in the world.

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Any gift received from a blood 'relative' is exempt from Tax ('relative' in this case is defined as spouse, daughter, brother or sister, spouse's brother or sister, parents and lineal ascendants of individual or his spouse, siblings of parents of individual or his spouse)

What are Indian gift tax implications when an Indian resident (mother, father) citizen receives AUD 200K from a blood related Australian citizen (child) via an international money transfer for the purpose of property purchase in mother, father and another sibling's name?

Service providers like Western Union make a profit from foreign exchange spread, transfer fees and any other charges paid by the customer. For this reason, understanding how much of your money is being spent on these costs means you can make a more well-informed decision about whether this service provider is for you.
Remitly is one of the cheapest and most popular international money transfer services for sending money to India. They offer fee-free transfer options, plus exchange rates that sometimes match the actual mid-market exchange rate. You can choose from four delivery methods: bank transfers, cash pick-up, mobile wallet, or cash delivery. With in-person pick-up locations across India, Remitly is a reliable service for transfers from the US to India. Take a look at our guide to transferring money to India with Remitly here to learn more. cibc exchange rate inr to cad 6 remittance india


First, you will need to obtain a "No Objection Certificate" (NOC) from the regional transport office (RTO) where the vehicle is registered. The NOC is a document that certifies that the vehicle is registered in your name and that there are no outstanding dues or loans on the vehicle.
In the United Kingdom and EEA area, Western Union, operating as Western Union Business Solutions (UK) Limited, is regulated by the Financial Conduct Authority (FCA). In the United States, the company is regulated both at the state level by the various licensing and banking regulations and at the federal level by the Financial Crimes Enforcement Network (FinCEN).
There is also an aspect of taxation to the money being sent to India. Let us say that the person you send the money to is related to you by blood. The spectrum includes your spouse, children, grandchildren, siblings, and in-laws. In such a case, you do not need to pay taxes on the amount sent. Even if the money is being sent as a wedding gift or inheritance, it is not taxable.

US citizens have a tax-exempt allowance on gifts to people overseas, and in 2023, this stands at $17,000 ($34,000 for married couples). If the transferred sum exceeds the threshold, then the tax is applied to the whole sum, not just the amount exceeding the limit.