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Foriegn Remittance
by on Apr 23, 2007 01:25 PM   Permalink | Hide replies

I am an NRI . I dont have an NRE account.

I send money to my Uncles(Fathers Brother)account through exchange agency DD.

Is he liable to any taxes??

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  RE:Foriegn Remittance
by Amitabh on Apr 23, 2007 01:36 PM   Permalink
Gifts from relatives as defined in the Income Tax Act for this purpose are exempt from tax.

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  RE:Foriegn Remittance
by Mumbai Man on Apr 23, 2007 01:57 PM   Permalink
but my annual remittance exeeds 2.5 lacs.

still is it exempted.

Does a paternal uncle coms in the list of relatives.

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  RE:Foriegn Remittance
by Amitabh on Apr 23, 2007 03:05 PM   Permalink
Yes,parent's own brothers and sisters are included in relative.Even if the amount is rs 2.5 lacs it will be exempt.

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  RE:Foriegn Remittance
by Mumbai Man on Apr 23, 2007 03:08 PM   Permalink
Thanks

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The above message is part of the Discussion Board:
All these incomes are tax-free