ONE OF MY CLIENT IS A WIFE OF PERSON WHO IS NRI(US)..... HE WANTS TO TRANSFER SOME MONEY TO HIS WIFE IN INDIA FROM HIS BANK ACCOUNT.???
IS THIS TRANSFER TAXABLE OR EXEMPT.??
Menu
Nri husband transfers money from us to wife in india ??
Replies (3)
Treatment of the amount called TRANSFER requires clarification, e.g. loan, gift, payment etc.....
Just a normal transfer of money from his saving account to her wife that is a joint account in both name..she resides in mumbai...he is in us.
"Just a normal transfer of money......"
Does ownership change? Does the fund get transfer from Husband's account to wife's account? How treated in books of accounts?, or its just contra entry, or credited to NRO account?
Please clarify.
Recent Topic
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
- Credit against paud RCM on rent
- Dividend difference in 26AS, AIS, TIS
- 194JB INCOME
- Filing ITR3 where income under section 44AD with L
- What is superannuation fund
- GST Refund of input services under Inverted Duty S
Related Topics
CAclubindia
