Are there any tax implications for sending money to India? Tax considerations vary by purpose: Gifts to family: No tax up to ₹50,000 Business transfers: Taxable in India NRE accounts: Interest tax-free NRO accounts: Interest taxable For transfers above $50,000 annually: Report on FBAR Dec...
(a) Status Holders are business leaders who have excelled in international trade and have successfully contributed to country’s foreign trade. Status Holders are expected to not only contribute towards India’s exports but also provide guidance and handholding to new entrepreneurs. (b) All exporte...
In some cases, they have to attach a Foreign Inward Remittance Certificate (FICR) issued by the foreign agency or bank through which the money is remitted. FIRC is required to prove that funds you remit as NRI or OCI come from your regular and legal income abroad. This requirement is enfo...
01 Jan 1970Posted By: E-StartupIndia How Can We Take Service Tax - VAT Input Tax Credit in GST RETURN What to do before lodging the Claim of the difference of tax under ITC? Transfer of Credits The New system under GST effective from July 1, 2017, allows a taxable person to collect...