Fund transfer from abroad

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
15 September 2015 Hi..Greetings of the day...!!!
My nephew is working in Canada. He wants to transfer money to his mother in India. What is the correct way to do the same out of below options;
1.Transfer directly to her savings account held in India
2.Transfer directly to their joint savings account held in India
3.Transfer to his NRE then NRO account and then to her savings account

Also I want to know if there are any Incometax implications for both in this case.
My nephew is outside India since August 2014
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
15 September 2015 Transfer directly to her savings ac in India, no income tax implication as it is treated as gift to relatives.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
15 September 2015 Dear Mr. Seetharaman,
Thanks for your reply.....

-regards
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member ATUL MAKWANAATUL MAKWANAPro Member Dinesh KaushalDinesh KaushalPro Member deepakdeepakPro Member Chandrasekhar gaddeChandrasekhar gaddePro Member MUKESH KUMARMUKESH KUMAR
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category