C) what will be the tax implecation on receiver ( on our company) D) the amount of investment is approximately 75 crores in indian rupees..
It's also important to note that there might be certain legal and tax implications in both India and your country of residence. It's recommended to consult with a lawyer or a tax professional to ensure that the gift is in compliance with all the laws and regulations, and to understand all the tax implications of gifting the money.
the partner bank, in accordance with RBI regulations. Jupiter itself is not a bank and doesn't hold or claim
- 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.
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. send money to new zealand from india i usd to inr today
When it comes to receiving gifts from Indian parents, the tax treatment will depend on the nature of the gift and the amount involved. 1 usd to inr in 2015 8 usd to indian rate to dollar
Be aware that this fee schedule will likely change if you are not sending from the United States to Canada. Regardless of your country corridor, we recommend you keep in mind a few principles when transferring money internationally with Western Union:
RBI is yet to instruct banks that such forms are needed on only where the tax law requires furnishing of such forms, and that the forms are not required when the payer is transferring funds to himself. This will ensure that unnecessary procedures do not bog down those who wish to remit their funds out of India.
2. can i send rs. 1.5 lacs pm from my monthly savings as i still work?
I am working in Dubai and planning to take a personal loan of INR 30,00,000. My Parents are both Senior Citizens. I want to split that amount and put Fixed Deposit of INR 15,00,000. on each of their name as monthly interest credit. So they have income monthly. Both have no other pension or income. Will there be income tax issue if I transfer this much amount to India
The fees to send 450EUR from Slovakia to the UAE would be EUR4.90. This rate applies if you pay Western Union through a credit/debit card and your recipient will receive the money as a cash pickup. Furthermore, Western Union would tell you how much you will be paid upon checkout. This way, you can review your fees before you continue the cash transfer.0 currencies exchange inr usd dollar inr rate today
The increased rate for foreign remittance tax in India can make overseas money transfers more expensive. However, there are a few methods by which you can reduce your overall taxable income. When TCS is applicable for any type of transaction, the money is collected by banks. So, you can adjust your total TCS amount depending on your tax liability.
If you are looking to make a large money transfer, then Western Union allows you to transfer up to $50,000 from the US when sending from your bank account directly to the receiver's bank account. But keep in mind that this limit may not be available for all receiver countries and is subject to restrictions based on the factors mentioned above. state bank of india remittance exchange the currency inr to usd
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.