Obtaining probate and transfer of inheritance to uk
This query is : Resolved
16 December 2015
My mother who resided in Gujrat passed away recently leaving me as executor and beneficiary of all her assets,i.e. 52 lakhs IRS in 2 banks there.She had no other assets.
I am a UK citizen and live in USA
To transfer the money to my USA bank account,do I need to :
1)obtain a probate.If so,how much would it cost and how long would it take.An estimate for both would be helpful.
2)Would I then need any other approvals, e.g. foreign exchange transfer approval.
3) Are there any other steps to be taken?
I am a UK citizen and live in USA
To transfer the money to my USA bank account,do I need to :
1)obtain a probate.If so,how much would it cost and how long would it take.An estimate for both would be helpful.
2)Would I then need any other approvals, e.g. foreign exchange transfer approval.
3) Are there any other steps to be taken?
Guest
Guest
(Expert)
23 December 2015
As per clause 5 of Master circular on Remittance facilities for NRIs, You may transfer the money to your Non Resident Ordinary rupee account (NRO) from which you can remit the funds to your US Bank accounts. In case u dont have NRO Account, you may have to contact the banker for alternative routes - but you may ensure that the banker is made aware of this rule so that he may process the same at the earliest.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Opting our of sec 44AD
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Multiple trade mark
- FORM 26A APPLICABILITY
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
