"After you know how to send money home, then the question "what about tax issues?" may come to your mind. As per Indian income tax rules, since money sent from the US to India is already taxed, you will not have to pay any income tax in India. If money is sent to close relatives, the recipient will not have to pay gift tax. The bottom-line is that remittances from abroad to close relatives in India for personal uses will not attract taxation (but it might invite scrutiny in which case the recipient may have to prove that the remittance was made from abroad) in any form. Note that this is not professional advice and you should check with authorized taxation experts in India regarding this."
Is it true that amount recieved from Abroad through, we are NOT supposed to pay any icome tax if we can show that we have recieved the wire from abroad ?
CAclubindia
