My friend wants to send Rs. 30 lakhs to his son in Australia to buy a house there. Fundraising by pledging gold in a bank and taking a loan against it.
How much money can we send abroad?
Can he send money to his son without deducting TCS?
What is the limit to send money abroad without TCS?
Can he divide this money among his close relatives, and they will send the same individually to avoid TCS provisions?
Do we require any certification from CA for sending money abroad? , If yes, which form /certificate?
Can we avoid the TCS provisions by getting any certificate from a CA? If yes, which certificate/form
Kindly advise
CAclubindia
