Money transfer to parent in india from uk
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2011
HI
COULD ANYBODY PLEASE TELL, IF I SEND MONEY TO MY PARENT IN INDIA FROM UK IS TAXABLE IN INDIA OR NOT.
MANY THANKS
COULD ANYBODY PLEASE TELL, IF I SEND MONEY TO MY PARENT IN INDIA FROM UK IS TAXABLE IN INDIA OR NOT.
MANY THANKS
20 September 2011
If the money send is from your savings and through proper banking channels, Income tax need not to be paid on that amount.
21 September 2011
Any money transferred to the NRE or NRO account will be a capital receipt and hence not taxed.
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