Money sent from USA taxable?

not taxable

I dont think it is taxable in your hand as it is taxable in your brother's hand. However if he is an NRI he would be exempt from it.

 no need to show it in ur ITR..

not taxable..

Thanks For your reply..means I only show my Form-16 details in ITR.

No details of money that I recived from my brother from USA.

Thanks,

NO.. IT IS JUST REPATRIATION IN INDIA AND NOT AN INDIAN INCOME SO NOT TAXABLE

Dear,

In case, your brother had gifted the amount to you, then account for the same amount in your income and it is exempt under Sec 57. The result is that you will get your personal capital enhanced.

In case, it is shown as a loan, then u can clain interest deduction for that.

Rectify me if wrong anywhere.

Dear,

In case, your brother had gifted the amount to you, then account for the same amount in your income and it is exempt under Sec 57. The result is that you will get your personal capital enhanced.

In case, it is shown as a loan, then u can clain interest deduction for that.

Rectify me if wrong anywhere.

Dear Nitin,

You have not mentioned whether he has gifted u or given a loan to you. In both scenario, from the inforrmation provided by u it will not be taxable. there is no column in ITR to mention the same, however if it is gift, i suggest u to show as exempt income, so that tomorrow when an enquiry is made suitably u can defend ur case.

Regards

Kanti Jain

While transferring the amount, he choose either "GIFT" or "FAMILY MAINTENACE" option.

Please suggest

Hello,

Its neither gift nor family maintenance or anything....

He has gone for 2 years. I think he has gone on contract there. Is he getting PDA or salary in USA. thts important. ALso he can send it to you. I will suggest to ask him to open NRE account and transfer the amount..

He has to pay tax on tht amount in India...

So he can transfer the same amount and u can utilise it here..... why u want to show it gift and all.

If you wnat to show as gift than any income from it will be clubbed in in ITR.

Originally posted by : CA Shivang
	Hello, Its neither gift nor family maintenance or anything.... He has gone for 2 years. I think he has gone on contract there. Is he getting PDA or salary in USA. thts important. ALso he can send it to you. I will suggest to ask him to open NRE account and transfer the amount.. He has to pay tax on tht amount in India... So he can transfer the same amount and u can utilise it here..... why u want to show it gift and all. If you wnat to show as gift than any income from it will be clubbed in in ITR.

I am not showing it as anything...I specified that when we transfer money using Remit2India or ICICI Money2India services...they ask to choose the Purpose...where he choose either "Gift" or "Family Maintenance". He is getting there the Salary after deducting tax as per USA standards. He is also havinf SSN.

ok great....

Than choose anything.....it wont make any impact on taxation..... jsut keep receipt for safety... normally its never asked in assessments....

it's not taxable.... But you should keep all records with you..... regarding sources of the funds....