23 July 2008
dear sir, i have two brothers one in USA and other in Dubai.my query is they transfer the amount to my SB account and due to that my SB transactions are crossed 1000000. is there any problem to me regarding such amount as the banker will file details to IT abt the SB account, and i used the entire amount for house construction on my mother's name and for household expenses as direction made by them. is i should file return to IT or not required
23 July 2008
If they are Non-residents as per our IT Act there is no problem as long as their income earned is not from India and you have proof of their remittance to your account.
CAclubindia
