My brother is a student in USA and earns stipend. He owes money to some banks in India for the education loan he took in past. To repay the amount should he send money from US to a savings account of his blood relative in India (and then the blood relative transfers it to the loan account) or should he directly transfer money form US to his loan account in India? What are the tax implications of both the methods? Thanks!
If the student in US transfers money from his US bank account to his own education loan account in India, are there any tax implications that he will need to take care of? Thanks.
No tax implications for his own or blood relation as per the act
CAclubindia
