Aravind.. (CA) (1262 Points)
19 October 2011
One of our assessee wants to give his son, who is in singapore and wants to start a business there, some amount as gift or as loan. What is the maximum limit he can give as gift or as loan to his son without restriction and also with
restrictions. Please help me in this regard
valji
(Accounts manager-MBA)
(2150 Points)
Replied 19 October 2011
GIFT FROM RELATIVE EXEMPTION FROM TAX
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 19 October 2011
Indian Citizen can gift 2 lakh $ per year under LRS to close relatives.
Anuj
+91-9810106211
femaquery @ gmail.com
ARUN KUMAR
(Financial Consultant )
(992 Points)
Replied 19 October 2011
THANKS FOR SHARING....................
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 20 October 2011
LRS is Liberised remmitance Scheme for Indian Residents.
Anuj
+91-9810106211
femaquery @ gmail.com
CAclubindia
