GIFT TO NRI SON FROM USA BANK ACCOUNT
This query is : Resolved
05 June 2024
I am a resident Indian having business income in India. I have a Saving bank account in USA, having a balance of approx. USD 45000. This is information is properly disclosed in my ITR.
My son resides in UAE as an NRI.
My question is whether I can send him gift directly to his Dubai account from US bank ? Do I need to file form 15 CA , 15CB ??
My son resides in UAE as an NRI.
My question is whether I can send him gift directly to his Dubai account from US bank ? Do I need to file form 15 CA , 15CB ??
05 June 2024
Yes,
Not mandatory, unless demanded by any Indian Bank.
Not mandatory, unless demanded by any Indian Bank.
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05 June 2024
15CA CB is only required when funds are remitted from India to Foreign Country which is chargeable to tax , in this it wont be applicable
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05 June 2024
Thank you so much... sir.!!
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05 June 2024
You are welcome.
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