The Adani Group is in discussions to rope in at least five new international banks as it looks to refinance $3.8 billion of loans of varying tenors taken for the acquisition of ACC Limited and Ambuja Cement last year, said people aware of the ongoing discussions.
It depends on the relationship you share with them. If you share a blood relationship with them then no Tax will be levied. But, When an NRI gives gifts in the form of cash, cheque, items, or property that exceeds the value of Rs. 50,000 to a Resident Indian who is a non-relative, the NRI gift taxes India is payable by the receiver. The amount is added to the receiver's income and taxed as per the income tax slab applicable to the receiver.
When it comes to sending money internationally, Western Union fees are considerably higher than other international money transfer providers. However, due to their solid reputation, many customers are happy to pay for these fees, comforted by the familiarity of the Western Union brand.
If the gift is received by the indian what is the rate of gift tax.No gift documents are received from the foreigner. Can the Indian reject the gift , and the same can be taken back by the foreigner. Give me a clarification and suggestion
One of my distant relative wants to send an old item for which the declared cost for consignment is USD 500. Will there be an income tax implication. What documents I should have to prove it's cost and it is an old item. Further what constitutes an old item?
^{While PayPal may be a good option to pay or receive payment for purchases online, they do not allow you to transfer money to individuals. If you'd like to transfer money abroad, you may want to consider a specialist international money transfer provider like Wise.
According to the Reserve Bank of India (RBI) guidelines, an Indian resident can gift up to USD 250,000 per financial year to an NRI spouse who is an Indian citizen or of Indian origin. This gift can be made in any form, including by way of a bank transfer to your wife's account in India.}
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As stated above, you'll be required to pay tax on capital gains you make on foreign investments. This means, in a broader sense, any income you make from your investment is subject to taxes in the US - this includes interest payments and dividend payments. You may also be liable to pay tax to the country where the investment has been made - again, opening you up to the risk of double taxation.

^{NRIs may also be able to transfer funds in excess of the LRS limit, but they will need to obtain prior approval from the RBI and provide the necessary documentation. The specific requirements for obtaining approval and the limits that apply to these transfers will depend on the purpose of the transfer and the type of account involved.}
I've been involved in personal finance and property journalism for the past 20 years, editing websites and writing for national newspapers. My objective has always been to offer no-nonsense information to readers that either saves or earns them cash.
If you wish to send money to your mother's resident saving account and open a fixed deposit of 50,000 INR, then the interest earned on this deposit will be taxable. The bank will be deducting TDS at the rate of 20% if there is no PAN number available. But if you open a fixed deposit from funds available in the NRE savings account, you won't have to pay taxes on the interest earned on this deposit. current exchange rate usd to inr indian remittances 2021


The exchange rate margins and transfer fees are the main costs to be aware of when sending money with Western Union: the company does not charge any additional fees. However, you may be charged origination fees by your bank and the recipient's bank may issue landing fees. Senders who pay for their transfers using credit cards may also be charged cash advance fees by their card issuers.
International money orders are a different way of sending funds abroad, and you can generally carry out an international money order through postal services and some banks and MTOs. They are generally cheaper than wire transfers - however, they can also be slower than other methods.
In case of a minor son - any income from such transfer will be added to father's income.
A resident individual may send up to $2.5 lakh in a year. An NRI with a Non-Resident Ordinary (NRO) account may send up to $10 lakh in a financial year. An individual with a Non-Resident External (NRE) account or a Foreign Currency Non-Resident (FCNR) Account does not have any such limits.