I have one query regarding money transfer from NRO Account to in SB Account. One of my relative insist to me that i will transfer 8 lacs rs from his NRO account to my sb account for buying new house in India (in the name of my relative-NRI). Is it possible ??
Is any tax liability occurred to me for transferring this fund for payment to contractor/builders?? My income is taxable and above the statutory limit.
CAclubindia
