If X of Australia transfer to ,a Y of India ( where Y is brother of X's spouse) an amount of 25lakhs for further payment to other person.
NOT A GIFT for Y.
what are the implications?
Menu
Foreign transfer
Replies (3)
Quick Summary
It is a foreign transfer and should be registered by RBI and the transaction should be done through authorised person otherwise penalty will be imposed under FEMA Act. But if it is gift then you can transfer upto 100000 rupees but as it is no gift it should be done through authorised person
Okay will that amount will be taxable ?? in any way .
even though it is not a gift?
even though it is not a gift?
Yes it is taxable
Recent Topics :
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
Related Topics :
CAclubindia
