Family Support Transfers
Assisting NRIs in transferring funds to support family members residing abroad for educational, medical, or personal needs.
Problem Addressed:
NRIs often need clarity on regulatory limits and tax implications for transferring funds to relatives abroad.
Process Flow:
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1. Purpose Verification:
Establish the purpose of the transfer (education, maintenance, or medical expenses). -
2.Documentation:
Prepare supporting documents, such as invoices or proof of need. -
3. Tax Compliance:
Ensure taxes are accounted for, if applicable. -
4. Fund Transfer:
Facilitate the transfer of funds through NRO or NRE accounts as per RBI guidelines.
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