GIFT TO NRI SON FROM USA BANK ACCOUNT

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rajesh behl (Querist)
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05 June 2024 I am a resident Indian having business income in India. I have a Saving bank account in USA, having a balance of approx. USD 45000. This is information is properly disclosed in my ITR.

My son resides in UAE as an NRI.

My question is whether I can send him gift directly to his Dubai account from US bank ? Do I need to file form 15 CA , 15CB ??

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 June 2024 Yes,
Not mandatory, unless demanded by any Indian Bank.

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CA. Bhavik P. Chudasama

CA. Bhavik P. Chudasama (Expert)
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05 June 2024 15CA CB is only required when funds are remitted from India to Foreign Country which is chargeable to tax , in this it wont be applicable

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rajesh behl

rajesh behl (Querist)
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05 June 2024 Thank you so much... sir.!!

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 June 2024 You are welcome.

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