FOREIGN REMITAANCE
This query is : Resolved
26 September 2020
I WANT ADVISE FOR LIKE, IF AN INDIVIDUAL SHOPKEEPER (ABROAD) WANTS REMITTANCE AMOUNT AROUND 40 LAKHS INR , THROUGH HIS BANK ACCOUNT TO SOME ONE BANK ACCOUNT IN INDIA, WHAT IS THE LAW OR CIRCUMSTANCES ON THE SAME MATTER / ANY TAX LAIBILITY
27 September 2020
Receiver in India as no any RBI compliance. Just need to check Income Tax. If giver is not a relative then receiver in India is taxable.
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