Anonymous

Sir,
Please, give your kind opinion for below mentioned questions :

An NRI sends 3,000 US Dollars from a foreign country to his mother in India.
He sends this amount with his friend , who is also an NRI, and coming to India for a short period.

This foreign currency is sent to his mother as A GIFT FROM A SON TO HIS MOTHER.
The mother now exchanges the foreign currency - US Dollars, in her own name, by filling her own name and other details in forms, showing the currency as her own .
She gets the exchanged amount credited in her bank a/c, after deduction of exchange fees.

Questions :
1) Is this kind of transaction valid and allowed in the eyes of laws and rules ?

2) - Can an NRI send and gift foreign currency, in this way, to his relatives in India ?
- Can such NRI’s relative in India, exchange such gifted foreign currency in India, in his/her own name ?

Is it ok ? Can they do this ?

3) Will such gift transaction need any written documentation ?
- If Yes, then how can it be possible, in absence of NRI? Because he is in foreign country.

4) Is this amount taxable in the hands of mother ?

5) Will the mother have to show this amount in her Income tax return ?
- If Yes, Where to show it ? - Under which head ? By writing what particulars for it ?

6) If she shows this amount in her income tax return, then which ITR form she will have to use ?
ITR-1 OR 2 OR 3 ?
(She has only bank interest and FD Interest, as other incomes. No any salary or any other income.)

Please, clear these confusions.
Thanks in advance.


Salik Ahmad
09 October 2017 at 19:59

Director disqualification

Dear Sir/Madam,
Please suggest the procedure of re appointment of director in private limited company after dissqiualification.

When i am trying file INC-22, in prescrutiny a message show Director Dissqualified as per provision



Anonymous
09 October 2017 at 19:27

Amendment(non-core fields)

I'm actually in printing field where we print books as the order given by the party i.e. we do service (SAC)

at the time of registration we registered using HSN i.e. as printed books supplier but we are not, now i'm trying to change it from HSN to SAC our actual SAC code is 9988 but as i'm trying to update it is showing "NO RECORDS FOUND" not only 9988 for every service code(SAC CODE) it is showing same message.


Mangesh Ingle
09 October 2017 at 19:17

gstr1

should GSTR1 filing date extend??


LALIT NARAYAN DHUMAL
09 October 2017 at 19:10

Rcm on transportation charges

Sir..I make accounting for the month of september. For Gst purpose, Can i make accounting without leving RCM on Transportation Charges.This is because Govt. recently abolished RCM upto 31.03.2018. So, Sir, Please guide me.


vekariya NILESH
09 October 2017 at 17:56

RCM UNDER 9(4) CGST ACT, 2017

Hello Everyone, I want to know about section 9(4) of CGST Act, 2017. Is it suspended or not? And if yes, then no need to pay GST on services rec'd from unregistered dealer where amount is more than 5k.right????


AMBER
09 October 2017 at 17:43

Set off of F & O Loss

Sir My Client has filed return of income for AY 2016-2017 ( Y E 31-03-216 ) on 31-03-3017. His Net loss was 60lac. i has filled return u/s 44AB Now in AY 2017-2018 wheather loss of last year cam be set off in current year


RAJEEV KUMAR MEHTA
09 October 2017 at 17:41

Sale of flat

Whether an individual selling a residential flat attracts GST? If so what is the rate and what is the procedue?



Anonymous
09 October 2017 at 17:15

Registration of gst for service provider

We have two segment of income one is interest income and other is brokerage income. Interest income is exempted from GST and as per latest amendment service provider with total turnover of Rs. 20L is exempted to take registration of GST. If we combine both the income than our turnover exceeds 20L and if we take only brokerage income than our turnover is within 20L. My query is that should we take registration of GST. Please suggest what should be done?


Atish Tyagi
09 October 2017 at 16:00

Gstr-1 july 2017

Dear Sir,
I have also filed GSTR-1 for the month july 2017 but B2B sale to Registered dealer wrongly computed in Unregistered column. please suggest any rectification possible or not in future.






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