Unfortunately, if you're earning a foreign pension it is likely you'll be subject to taxation in the US. Your contributions to a foreign pension won't reduce your taxable income, and your employer's contributions to the foreign pension will increase your taxable income.
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Resident individuals are eligible to remit funds outside India under the LRS scheme, subject to certain terms and conditions. The scheme is not available to corporates, partnership firms, trusts, etc. If the remitter is a minor, the LRS declaration form must be countersigned by the minor's natural guardian.
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
Hi Sangeeta,
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Step 1: Just tell us how much to deposit. Step 2: Choose almost any bank in India, including HDFC Bank, PNB, Axis Bank and YES Bank. Step 3: Enter your recipient's account information on our secure page. Step 4: Conveniently pay with PayPal, bank account, credit card, or debit card. View all banks}
_{i have just sold a property in India. I want to share the sale money with my two brothers one lives in Canada and the other in India. I have paid the capital gains tax on the money recieved. I want to now transfer 30 lak to my brother in Canada and 30 lak to my brother in India...how can i do this...} whatdollars to rupees into dollars 200 rupee note


Gift by NRI who is staying in USA and is green card holder , and he is giving his immovable property ( shop) stake in partnership firm ( partnership firm owns the said shop) to his real mother. Then any tax is payable in USA by him?
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? helpful hints
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.
These forms are income tax forms. Tax is required to be deducted at source from a payment to a non-resident of any income which is chargeable to tax, and such forms are required to be furnished irrespective of whether such payment is chargeable to tax or not.

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^{Banks generally insist that for such remittances, a certificate from a chartered accountant, and an intimation to the income tax department (both of which are filed online) should also be furnished. These forms are not asked for by banks when the remittance is being made under LRS by a resident.}
Western Union believes in rewarding loyalty and anyone sending money through their app or website will be enrolled in the My WU loyalty program. The program allows visitors to earn points with each qualifying money transfer that can be redeemed against reduced transfer fees on future qualifying transfers.
It depends on the relationship you share with them. If you share a blood relationship with them then no Tax will be levied. But, When an NRI gives gifts in the form of cash, cheque, items, or property that exceeds the value of Rs. 50,000 to a Resident Indian who is a non-relative, the NRI gift taxes India is payable by the receiver. The amount is added to the receiver's income and taxed as per the income tax slab applicable to the receiver.
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^{Is money transferred to sister who is a resident in India from NRE account of NRI (self) fully covered under gift to relative exemption as specified numerous times above and is this law likely to be changed anytime soon by the Indian govt ? Also if the NRI becomes a PR of any country will that safeguard resident sister better from paying tax on the gifts received via bank transfer ?}
While the exchange rate may not seem like such a big deal to you, it will matter to your recipient-who won't receive the full amount of the money you send. Take, for instance, the difference between two $1,000 transactions, calculated using different exchange rates:

However, if the NRI/OCI is transferring funds from his Indian bank account to his own overseas bank account, he is not making any payment to anybody at all. A payment would mean that the remittance is being made to another person. One cannot pay anything to oneself.

This can be seen based on how Xoom has recently performed on Monito's real-time comparison engine, which ranks money transfer providers in order of their fees and exchange rates. By analysing hundreds of thousands of comparisons ran between November 2020 and January 2021, we found that Xoom was the cheapest overall on 32% of cash pickup transfers to India from the countries in which Xoom is available for sending. This (already impressive) number is especially true in the US, where Xoom was the cheapest cash pickup service to India on nearly nine in every ten searches!
Consequently, any sum of money gifted to nephew shall not be chargeable to tax in the hands of the nephew. However, reverse shall be taxable since nephew is not a relative of his uncle in terms of the definition contained in Section 56 of the Act.
A currency conversion fee of 3% exists in addition to the exchange rate whenever you convert an amount you received into INR. With how PayPal functions in India, you must pay the currency conversion fee daily, when the funds are withdrawn from your account.
^{For this, you have to consult with the lawyer.} australian dollar rate in india rupees 4 dollars in indian rupees

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.

^{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.}

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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

However, given Western Union's history of customer complaints and lawsuits, maybe consider looking at smaller money transfer providers who have a better track record and also offer better exchange rates and lower fees. Having said that, Western Union will almost always be a cheaper option than your bank, especially when sending one-off transfers or to remote destinations.
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.
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