Gift received from NRI
This query is : Open
20 December 2010
How much can a son residing abroad remit money to his parents? Is it taxable in the hands of parents? Should it be treated as loan? What are the provisions of FEMA regarding the same?
21 December 2010
Remmitance is not a income so it is not taxable.
No, It cannot be treated as loan.
FEMA will not apply.
No, It cannot be treated as loan.
FEMA will not apply.
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