Remittance of ruppes to non relative nri
This query is : Resolved
02 May 2015
One of my clients is Resident of India. He wants to give certain amount of rupees to his non relative NRI friend for his old family obligation. My client will give amount in foreign currency i.e dollar. My query in this regard is which tax provisions will get attracted in this transaction for my client. Will he be required to pay any taxes?
02 May 2015
If it is a repayable loan no tax payable.
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