Transferring funds from abroad

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A user inquired about transferring salary earned in Ireland to India. The advice given is that the funds can be directly transferred to an existing Indian savings account, without needing to open an NRE account. Additionally, transferring money from the wife's account to her husband's Indian savings account is permissible and can be declared as a gift, subject to clubbing provisions.

DIVYESH JAIN

DIVYESH JAIN (Querist)
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17 May 2024 Dear Sir,

My wife was working in Ireland from Nov 2021 to Nov 2023 and has earned Salary income in her bank account in Ireland. Now she is settled in India from the past 3 months and will be permanently staying in India. She wants to transfer the amount earned in Ireland to India.

My question is whether she needs to open an NRE account here in India to transfer the amount from Ireland or she can directly transfer in her saving account here in India the entire amount in one go. The taxes on income earned in Ireland has already been paid.

Please help me resolve the query.

Regards,
Divyesh Jain

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 May 2024 She can transfer the amount directly to her Indian savings account.

DIVYESH JAIN

DIVYESH JAIN (Querist)
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17 May 2024 Thank you Sir for your reply.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 May 2024 You are welcome.
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DIVYESH JAIN

DIVYESH JAIN (Querist)
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04 June 2024 One more query in this, if a wife transfers money from abroad account to her husband's Indian saving account then will this amount be taxable to husband or husband can show it as Gift from wife.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 June 2024 Husband can show it as gift from wife.
Clubbing provisions applicable.

DIVYESH JAIN

DIVYESH JAIN (Querist)
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04 June 2024 Thanks for your reply.

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