My youngest brother working in US has died being shot during robbery on Dec 8th ,2017 and a fund was created by sympathisers ( Go fund me) to collect contributions for him being a victim of violence . His surviving wife and son live in India. We wish to get the funds be transferred to her. Please advise
1. what is the procedure to follow
2. How these funds be reported to Tax authorities and what tax rates are applicable if they be treated as gifts. The total amount is approx U$13,500 .
Anticipating your earlest attention and advice ,
Thanking you a lot for your time
Krupakar Rao Karengle
CAclubindia
