I will be recieiving gift money from my father of approximatel 50 lakhs for sale of business which i need to transfer overseas since its a gift i am not willing to pay any taxes. What is the best way to transfer the funds over and what documents will be needed?
For bank transfers from the USA to India, the playing field was more competitive. According to Monito's comparison data, the cheapest services in 2020 were Instarem (which was the cheapest on 24% of searches), followed closely by Ria and Wise (both cheapest on 22% of searches), and Skrill (cheapest on 19% of Monito searches.)
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According to search data on Monito's comparison engine from 2020, OFX was by far the cheapest forex broker for international money transfers from the US to India, being the cheapest service on 80.7% of all searches above US$50,000 during that period.
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