16 May 2011
dear all, If a NRI remitting directly to an account of resident indian,(fund transfer to a resident in india)is there any tax implication to NRI?
16 May 2011
THERE MAY BE A TAX IMPLICATION IN A SENSE THAT THE SUM RECIVED WILL BE TREATED AS GIFT UNDER SECTION 56(2)(vii) IF THE RECEIPIENT IS NOT COVERED BY THE EXCEPTIONS PROVIDED THEEIN U HAVE NOT SHARED DETAILS OF RECEIPIENT AND HIS RELATIONSHIP WITH SENDER, THE AMMOUNT INVOLVED THEREFORE A COMPLETE REPLY CANNOT BE GIVEN
CAclubindia
