24 July 2015
Dear Sir/Madam, MR. X is an NRI who sends money to his wife through Money Gram/Western Union etc and wife takes and cheque from them and submits the same in saving ac which are used to pay loan EMI's. If this account is disclosed in ITR, will there be any implications? There are other entries but not high in amount.
24 July 2015
There shall be no implication subject to the Amount sent by NRI should be tax paid in the country from which he is sending the AMount and also the wife have fill the FCRA Forms with the bank in which the amount is received as gift from relative.
CAclubindia
