Money from uk for business
This query is : Resolved
08 November 2014
Hi,
I want to understand what taxes or fees I could be facing if I have money transferred from UK for the purpose of business in India.
I want to start a business in India and have my father transfer money from UK, where he is a citizen.
what are my options.
thanx
Amol S Joglekar
(Expert)
08 November 2014
Remittances are tax free. Your father can transfer ANY amount to you. So long as you are using this amount in YOUR name, for business, no permission per se is required. If your father is investing in his name, then subject to general limits of FDI, he has to obtain FEMA permission.
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