My father in law wants to send Rs. 2.5 Crore to USA as a Outward Remittance by selling his 25 acre land to my wife.
Is there any way to calculate the tax amount on this?
BTW, this money will be sent as a Gift to my wife.
Thanks in Advance!
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TDS or Other Taxs on Outward Remittance
Replies (1)
The money sent as gift is not taxable. The sale of land may attract capital gain.
However, such gift may be subject to provisions of regulations made under FEMA act.
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