Query related to nri

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35 Points Posted on 11 September 2012

Urgent Query

 

My Client (indian Citizen) wants to receive a sum of Rs 10 lacs from his brother who is NRI- stays in USA. 

I want to know what are the tax implication on my client who is Indian resident and how the said amount will be reflected in his Annual Income Tax Return.

Also is there any FEMA guidelines applicable for such kind of transactions??

Please help...

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On 11 September 2012 at 18:36 Report
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student
224 Points Posted on 12 September 2012

is nri income (business income) subject to presumptive taxation ?

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On 12 September 2012 at 17:14
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Practices in NRI Int.Tax FEMA TP FD
7024 Points Posted on 11 December 2012

Idian Citizen can either recieve LOAn subject to FEMA regulations or receive Gift(no regulation)

 

 

Anuj

femaquery @ gmail.com

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On 11 December 2012 at 11:18

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