In the past one could send monetary gift to any blood relative, without worrying that the receipients will also have to pay taxes( the donor has already paid taxes on this amount in a foreign country).The new law puts restrictions on the term"relative".Now people are reluctant to send money, It is a net loss to the country, as the country loses valuable foreign exchange and net money inflow in the country (No product or services go out of the country).The law should be changed, so that one can send money to any blood relative(without worrying that the receipients will also have to pay unnecessary taxes). I hope the finance minister reconsiders and changes the definition of relative to any blood relative.
