Festive Savings Are Here. Get 10% OFF on All CCI Pro Plans. Subscribe Now!

Urgent.....how to receive money

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

03 November 2015 if salaried indian person want to receive money from non relative nri person without tax implication.

then how its possible
amount is Rs. 80,000
throuh gifts its possible

Amol S Joglekar

Amol S Joglekar (Expert)

03 November 2015 is it gift or loan?
if it is loan (may be interest free), then it is not taxable under income tax act.

Querist : Anonymous

Querist : Anonymous (Querist)

04 November 2015 Sir, resident person has given some service to Nri now NRI wants to pay his amount,its a one time transcation only not on regular basis

so neither gift nor loan

Amol S Joglekar

Amol S Joglekar (Expert)

05 November 2015 if the service is given from india or from outside india, is not a concern as the person id resident in India. The amount is taxable in India. Please do not think of giving some COLOUR to the said remittance as may be advised by some tax expert people.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now