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.
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What this means is that PayPal takes the wholesale or mid-market exchange rates on the day of conversion or the previous business day, and adds this markup to calculate the rate used for your transaction. This makes it difficult for the user to see the full costs of the transfer, whether these are charged to their own bank account or to that of the beneficiary.
^{Hi Hemant. Can I check if I can send gifts such as cosmetics to my family back in India and not get taxed on it? I am an NRI and holder of Indian Passport Holder based in Singapore. I would typically use a corporate DHL account to ship. Any tips ? Thanks}
1) Whether Your brother is consider as your relative in the eyes of law.
If you are sending money to your close relative, it won't be taxable. However, if you are sending money to your friend or acquaintance in India and the amount is above Rs. 50,000, then it is taxable. The excess amount above Rs. 50,000 would be treated as income and the receiver of the funds would have to pay income tax on it in India.
Let us first see what wire transfer means. Wire transfer means transferring money from one bank to another. The transfer happens electronically. Wire transfers can be both domestic and international. Mostly, people use wire transfers to send money overseas.

I am buying a property in India as a NRI what is the best way , shall I buy just use my arhat and pan card to show am still a resident or buying in dads name and gift to NRI , as it's agricultural land which we came to know later. For the future selling and transaction, which is the best.

To do so, you'll either need to have a PayPal account or be ready to open one. To send money with Xoom, you don't need to use your PayPal balance (although you can choose to do so), but the service is integrated with PayPal, meaning you'll need to set up your credit or US debit card in PayPal in order to make a transfer to India with Xoom.
In general, yes. In India, the transfer recipient will be required to pay gift taxes on all amounts greater than 50,000 INR per year unless they're a close relative of yours, in which case they'll pay no taxes. On the American side, a maximum of $14,000 is allowed to be transferred per person per year without having to pay tax. Anything exceeding that amount, and you, as the sender, will be taxed by the IRS.
3) In what Quantity you want to transfer the shares.

I and my wife have been receiving funds from my son in the US ON H1-B for quite some time. Now with my advanced age and of less need, I would like to send back as much as possible. Those amounts have been shown as Gifts in some years and Ln in year's return. Now, what is the possibility and liability in the present scenario?

To really understand what Western Union means here, you need to understand a bit about the mid-market rate. That's the only real exchange rate and the one that banks and financial institutions use when trading currency on the open market. You can check the mid-market rate using an online currency converter, or by googling the currency pairing you need.

There is no tax on any amount you send to individuals who are your blood relation. These could include your parents, grandparents, siblings and children. Close family, like spouses and in-laws, are also included. However, if an NRI sends money to somebody who is not related by blood, then there is a tax implication. An amount over Rs 50,000 per year is subject to taxation in the hands of the receiver.

2) option#2: He sells the land and transfers the money to my bank account as gift and I transfer the money from my Indian bank account to my overseas bank account

You can initiate transfers at a local Western Union location, online or by telephone. In each instance, there are multiple options for transfer to choose from, each one with its own associated fees. Depending upon the destination and countries of origin, available transfer options include Western Union's Three Day service, Next Day service and Money in Minutes service.

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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 have sold a property in India and paid the capital gains tax etc. The money is in my NRO account . I am a NRI based in UK. Can I remit the tax paid money as gift to my son and daughter in their UK bank account from my NRO account ?I have the CA certificate as well. Is there a limit how much can I remit outside India ?

Yes, you can still send a money transfer if neither you nor your recipient in India has a bank account. Look at cash transfer providers such as MoneyGram where you can pay with cash and your recipient can collect it as cash or as mobile phone reload on the other end.
- I would like to gift around 25 lacs to my father in law as a gift. Is it exempt from tax? What documentation I need to do? I know that simple gift deed is required. Are signatures required on the gift deed? Can it be done as soft copy while both parties are in different countries?
If you're sending small amounts of money abroad, our research found that opening up an account with XE Money Transfer would be your best course of action. More specifically, if the amount you're sending is less than $500, XE alone is the cheapest service 75% of the time.
A resident individual can gift his NRI relatives in Indian rupees as well as foreign currency under Liberalized Remittance Scheme (LRS) within the limit of USD 250,000 per resident relative per financial year. Gift received in Indian rupee can be deposited only in NRO Account.
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You're probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders Francois, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito's award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests -- all allowing you to make the savviest decisions with confidence.
Xoom charges a mix of commissions, fixed fees, and exchange rate margin fees for all transfers sent abroad. In general, you can expect to pay between 0.3% and 1.3% of your transfer in exchange rate margin fees and a further 3% to 5% in commission and fixed fees when sending to India with Xoom. Continue
A gift parcel was sent by my friend from the UK with some gifts as well as some currency inside as a gift to me. but in India after reaching the parcel they asked to pay 25000 as a transport service. ok, I paid for that. later they scanned the parcel and said this box has currency in bulk. so need to pay a penalty of 50000 rupees. ok, it is also paid. but now they r again asking to pay 45000 rupees for the exchange of UK currency.Ok now what am I saying is that if I get the gift parcel along with foreign currency later I can exchange. why I have to pay for that.is Delta Courier Delivery company from the UK to India a trusted company?.is it true.
_{The rules or limits for sending money to India will depend on where you are sending money from. Be sure to check how much you can send from your country to India via your chosen method before you have to report it to the relevant financial authorities.} What are the ways to transfer money from USA to India without having SSN number usd to inr dollars


As per my knowledge gifts sent in the form of cash, cheque, items, or property that exceeds the value of Rs. 50,000 to an NRI, who is a non-relative, the India gift tax NRI is payable by the receiver
^{If you're receiving money from abroad through inheritance, sale of property, or employment income to name a few, these are likely to have tax implications. If the money is a gift - so there is no expected exchange of goods or services in return - then you may have a tax-free allowance.
When it comes to money transfers to India with Xoom, you will pay a mix of fixed and commission fees for different transfer and receiving methods and amounts. In addition, you will also pay an exchange rate margin, which is relatively low with Xoom and which will remain the same regardless of which pay-out method you choose.}

2.An investor from Australia wants to invest in our company

Hi Prashantkumar,
Hi Brij,
If the mother makes a registered will and she does not change it then NRI gets the property. Nri can purchase but in the future on the demise of the mother legal heirs can claim an equal share, as per Shariah law your mother cannot execute an entire property through will so better execute a relinquishment deed.
According to the Reserve Bank of India (RBI) guidelines, an Indian resident can gift up to USD 250,000 per financial year to an NRI spouse who is an Indian citizen or of Indian origin. This gift can be made in any form, including by way of a bank transfer to your wife's account in India.

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^{There are several limitations on the transfer of funds from non-resident Indian (NRI) accounts. These limitations are put in place to ensure compliance with India's foreign exchange regulations and to prevent money laundering. Some of the limitations on NRI fund transfers include:}

US gift laws are not applicable to non US persons(people who are not US passport or green card holders or not resident in USA on a H1B visa or any other visa). If cash is gifted no issue and if the amount is above $100K the donee has to notify tax authorities since he is a resident in USA. If a property in USA is gifted then there are tax implications

What this means is that PayPal takes the wholesale or mid-market exchange rates on the day of conversion or the previous business day, and adds this markup to calculate the rate used for your transaction. This makes it difficult for the user to see the full costs of the transfer, whether these are charged to their own bank account or to that of the beneficiary.

I would appreciate if you could recheck & advice.

Ready to get started with Western Union

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. indian dollar rate today dollar to rupee 50

I am an OCI seeking to gift rupees of 2,00,000 to my nephew in India. I understand as the amount is more than 50,000 Rs there would be tax implications for him. I had read somewhere that he would need to give an undertaking that he would pay whatever taxes are owed in India for that money. what letter is required for that in addition to a gift letter? Would you have a template I could use? Thanks

dollar to pak rupee remittance out of india


I am a resident indian. My daughter is NRI and earns in Euro. She has a NRE account. Daughter had taken education loan. Since she started earning she asked me to clear the loan and I have cleared the loan. She has sent me Rs.5 Lacs just now. is it taxable? This is the money which I have paid back to the bank when I got the maturity monies from deposits. She has actually paid back what I paid back to her loans?
5 Western Union also makes money from currency exchange. When choosing a money transmitter, carefully compare both transfer fees and exchange rates. Fees, foreign exchange rates and taxes may vary by brand, channel, and location based on a number of factors. Fees and rates subject to change without notice. 7 billion usd to inr in words How much is 1 US in Rupee

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.

If someone sends money to your bank account as a gift, it's usually their responsibility to ensure the correct tax is paid. However, any money landing in your account in exchange for goods and services then counts as income - so you'll need to fill out a tax return.
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.
_{To do so, you'll either need to have a PayPal account or be ready to open one. To send money with Xoom, you don't need to use your PayPal balance (although you can choose to do so), but the service is integrated with PayPal, meaning you'll need to set up your credit or US debit card in PayPal in order to make a transfer to India with Xoom.}