Monetary Gifts
Facilitating the transfer of monetary gifts received by NRIs from family members in India to their foreign accounts.
Problem Addressed:
NRIs may face issues understanding the tax implications and legal requirements for repatriating gifted funds.
Process Flow:
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1. Gift Documentation:
Obtain a gift deed to formalize the transfer of funds. -
2.Tax Compliance:
Ensure no tax is payable on gifts received from specified relatives under Indian tax laws. -
3.Repatriation:
Prepare and file Form 15CA/CB and remit the funds through the authorized dealer bank.
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