Money Transfer from Abroad to Chennai (TN)
This query is : Resolved
G. Lakshmipathy
(Querist)
13 November 2008
Dear Sir/Mam,
I have one doubt if one person transfer
Some money from abroad to Indian person
What should have the Indian person and
How the tax department treats this if the
Amount exceeds $80,000. Because if any
Amount received from abroad with out loan
Purpose it will non taxable (I heard).
Please clear the doubt.
I have one doubt if one person transfer
Some money from abroad to Indian person
What should have the Indian person and
How the tax department treats this if the
Amount exceeds $80,000. Because if any
Amount received from abroad with out loan
Purpose it will non taxable (I heard).
Please clear the doubt.
S.Srinivasaraghavan
(Expert)
13 November 2008
It is too vague a question to answer. This require the details.
Ravikumar.G
(Expert)
17 November 2008
First you ensure the residential status and as per the provisions of sec 5 of IT act.
To ensure is there any FEMA violation.
To ensure is there any FEMA violation.
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