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 :
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Generate E-Way Bill for 4 Nos. Suppliers Involveme
- Section 54F Exemption
- Would you use a free, open-source alternative to s
- Business & Finance
- Report in GSTR 1 ( Credit Note ) for Wrong GST Rat
- Reply of summons issued under section 70 of the cg
- How to Bulk GSTIN Number Verify and Validation
- OPC Annual Filing Defaults – Need Guidance t
Related Topics :
CAclubindia
