What is the tax implication if receiving a foreign remittance from a relative to an individual account.
Is there any limit to such remittance?
Does the purpose needs to be disclosed?
Can it be done via gift deed?
Basant (Student) (63 Points)
25 September 2023What is the tax implication if receiving a foreign remittance from a relative to an individual account.
Is there any limit to such remittance?
Does the purpose needs to be disclosed?
Can it be done via gift deed?
sabyasachi mukherjee
(26073 Points)
Replied 26 September 2023
Basant
(Student)
(63 Points)
Replied 26 September 2023
Both accounts are personal.
Person sending is a citizen of the foreign country and receiver is a citizen of the domestic country.
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