Funds received from overseas
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 February 2018
Mr. A (NRI) Partner in a UAE firm expired and the firm needs to transfer the amount in his capital account to his spouse Mrs.A in her Indian Savings Bank account.
Kindly explain the Income-tax Implications and other RBI regulations effecting the transactions.
Kindly explain the Income-tax Implications and other RBI regulations effecting the transactions.
05 February 2018
No income tax applicable on this transfer being received by legal heir.
Receive the amount through banking channel and report RBI through your bank.
Receive the amount through banking channel and report RBI through your bank.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- UPDATE ITR
- Correction of AD Code in BOE Filed for High Seas Purchase
- TDS on Crypto section 194S
- Multiple GST Registration-Asset
- GST Practitioner Details
- If registered as GSTP should apply for new GST for trading
- Registration and LUT
- GST on written off amount credited to profit & loss account
- MSME Reporting in 3CB-CD
- GST REGIST FOR EXPORT OF SERVICE (ACCOUNTING)TO FOREIGN CLIENTS IF TURNOVER LESS THAN 20 LAC
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
