Tax implication on funds deposit in nre account
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 May 2018
One of my friend purchased lucky drawn ticket in sharing with other friend and both are working in Qatar. Now they got money from lucky drawn and sharing the price money equally between them.
They are maintaining NRE account in India and they wants to send this money that NRE account. One person have proper documents for source of money as he is purchase that ticket in his name. Please explain is any problem will come from India if that second person transfer the money to his NRE account in India.
Since he doesn't have any valid documents for this source of money.
They are maintaining NRE account in India and they wants to send this money that NRE account. One person have proper documents for source of money as he is purchase that ticket in his name. Please explain is any problem will come from India if that second person transfer the money to his NRE account in India.
Since he doesn't have any valid documents for this source of money.
CA R SEETHARAMAN
(Expert)
02 May 2018
Same ticket can be shown as evidence considering total prize money received and half of the prize money is shared and remitted by each one.
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