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 ??

05 June 2024 Yes,
Not mandatory, unless demanded by any Indian Bank.

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


05 June 2024 Thank you so much... sir.!!

05 June 2024 You are welcome.



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