remittance from NRI
This query is : Resolved
Ravi Prasad
(Querist)
16 May 2011
dear all,
If a NRI remitting directly to an account of resident indian,(fund transfer to a resident in india)is there any tax implication to NRI?
thanking you
If a NRI remitting directly to an account of resident indian,(fund transfer to a resident in india)is there any tax implication to NRI?
thanking you
CA MANOJ GUPTA
(Expert)
16 May 2011
THERE MAY BE A TAX IMPLICATION IN A SENSE THAT THE SUM RECIVED WILL BE TREATED AS GIFT UNDER SECTION 56(2)(vii) IF THE RECEIPIENT IS NOT COVERED BY THE EXCEPTIONS PROVIDED THEEIN
U HAVE NOT SHARED DETAILS OF RECEIPIENT AND HIS RELATIONSHIP WITH SENDER, THE AMMOUNT INVOLVED THEREFORE A COMPLETE REPLY CANNOT BE GIVEN
CA MANOJ GUPTA
JODHPUR
09828510543
U HAVE NOT SHARED DETAILS OF RECEIPIENT AND HIS RELATIONSHIP WITH SENDER, THE AMMOUNT INVOLVED THEREFORE A COMPLETE REPLY CANNOT BE GIVEN
CA MANOJ GUPTA
JODHPUR
09828510543
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