Accepting Deposit from Outside India to pay the local chitty payment of a 3rd Party
This query is : Resolved
Jacob Abraham
(Querist)
17 February 2025
Kindly advise
Can I accept funds from outside India in my local bank account and deposit them into his (NRE) local chitty investments from my bank account?
Is there any limit to accepting funds from foreign sources in our local bank account?
Are the same treated as income to us?
Can I accept funds from outside India in my local bank account and deposit them into his (NRE) local chitty investments from my bank account?
Is there any limit to accepting funds from foreign sources in our local bank account?
Are the same treated as income to us?
Nikhil Kaushik
(Expert)
17 February 2025
1. no limit as long as treated as income. You will have to register for GST if the total turnover crosses exempted limit.
however, you cannot transfer money from a savings account to a NRE account.
however, you cannot transfer money from a savings account to a NRE account.
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