For sending remittance from UAE self bank account to India self bank account for investment purpose ( say FD or mutual funds etc.) is there any limit of amount per remittance or per year which can be sent . Remittances are sent through bank channels only.
PayPal decides its own exchange rate. This might mean that you will pay a marked up rate on international transactions that arrive. The PayPal rate will most likely be different from the mid-market rate. The mid-market rate is the rate that banks use and is also the one seen on Google and Reuters.
Xoom is a PayPal service. We're part of something bigger, something that empowers over 250 million customers around the world to make secure online transactions every day. That's a strength in numbers you can trust. And the best part is, if you have an account with PayPal you can start sending money to India right now with your PayPal payment options right at your fingertips.
I am a oci card holder and citizen of usa. I have a joint ownership property with my mother . I brought it using my earned income and my parents live in it . Now I want the property to b in my name . My mom is ready to give me a gift deed . What are the tax implications and am I going in the right direction?
There's probably a fair chance that you're looking to save money on your transfers from the US to India no matter the amount you send or the receiving method. If this sounds like you, then we recommend that you make a point of checking our comparison engine before every transfer. That way, you'll ensure that you both discover the cheapest service in real-time and make considerable savings on your transfers to India:
It is possible for you as an Australian PR to make a gift deed of your immovable property in India to your children, who are also Australian citizens. However, it is important to note that Indian laws regarding gift deeds may vary from state to state, and you should seek legal advice from an Indian lawyer familiar with the laws in the state where the property is located. Additionally, you should also seek advice from a tax professional to ensure that the gift is in compliance with both Indian and Australian tax laws.
I am an NRI, can i gift my property to my father to avoid ant Capital gains and once my father will sell the property , he can transfer the money to me as a gift ?? is there any time limit like after how many months/years of sale of property he can gift me that money?
Is it necessary to inform the India IT Dept on such remittances.
Is it necessary to inform the India IT Dept on such remittances. original site
List out the steps of action required.
- Are there any restrictions on where this gift amount be invested by my father in law? I understand that income arising out of this investment is taxable to my father in law.
Don't head straight to your American bank - compare specialist money transfer services instead. They nearly always offer better INR exchange rates and lower fees, so for the same amount of US dollars you send, your recipient will receive more Indian rupees. 1 rate of exchange indian usd to inr rate compare
NRI fund transfer refers to the transfer of funds between a bank account held by a Non-Resident Indian (NRI) in a foreign country and an account in India, or vice versa. NRIs, who are Indian citizens living abroad, often need to transfer funds to and from India for various purposes such as paying bills, investing in India, or supporting family members in India. There are several ways in which NRIs can transfer funds to or from India:
As for the tax implications in the US, money transferred to an NRE account is considered as foreign income and is subject to US taxes. However, if the money is being transferred from a foreign bank account that you already own and the money was already taxed in the foreign country, you can claim a foreign tax credit or exclusion to avoid double taxation.
I am an NRI leaving in Australia. I have a property in India. I want to gift it to my mum. I still have Rs 24,00,000 loan reamining. can i keep paying that loan after transferring the property or do i have to pay off the loan before transferring the property?
Wise offers transfers to more than 40 countries, and more than 20 currencies from a linked bank account. With no hidden fees, Wise uses the mid-market exchange rate to convert from INR to other currencies and the money often arrives instantly, or within one day.
For sending remittance from UAE self bank account to India self bank account for investment purpose ( say FD or mutual funds etc.) is there any limit of amount per remittance or per year which can be sent . Remittances are sent through bank channels only.
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Transfers over CAD$10,000 will automatically be reported to FINTRAC by the bank or money transfer provider you're using to send the money. In short, whether you'll need to pay taxes on it or not is dependent on how the equalization was paid to you: consulting with your attorney would be best in this situation to make sure you won't face a tax penalty later on.
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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.
I am a person of Indian origin (holding US passport). I received 2 gifts each under INR 50000 from relatives on our 50th wedding anniversary. The funds were deposited in NRO account. Why I am receiving emails from the Indian bank to specify the source of funds.
The cost to send money within the US via Western Union depends on the amount you are sending, your payment method and how your recipient would like to receive their cash. To send $100 from your bank account to their bank account still carries a significant fee of $14.00.
My question is that I am a NRI in Australia and my friend in India want to give a gift of 20000 aud or around 11 lakhs rs to meWhat are the tax liability on me as a NRI from India and what are from Australian tax office.And any tax implications will my friend will face
A resident individual may send up to $2.5 lakh in a year. An NRI with a Non-Resident Ordinary (NRO) account may send up to $10 lakh in a financial year. An individual with a Non-Resident External (NRE) account or a Foreign Currency Non-Resident (FCNR) Account does not have any such limits.