hi, friends...
My client recived funds from usa friends during f.y 2024-25 an amount of rs. 8465000/-. whats is the tax implications and how to report such funds in itr ...pls guide ??
1 Replies
Rama chary Rachakonda
(Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294)
(7842 Points)
Replied 22 May 2025
Additional Requirements - *FEMA Regulations*: Consider Foreign Exchange Management Act
(FEMA) regulations regarding receipt of funds from abroad. - *Banking Channels*: Ensure the funds are received.
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