If a non-resident Indian (NRI) has purchased agricultural land without fully understanding the laws and regulations surrounding the purchase, they should immediately seek the advice of a legal professional with experience in real estate and agricultural land laws in India. They should also consult with any relevant government agencies to ensure that the purchase is in compliance with all laws and regulations. Additionally, they should make sure that the land is properly registered and that all necessary documentation is in order.
I'd like to know if I, as a US citizen, can gift cash $ or US securities into my brother's foreign account with a US brokerage and have this gift be considered tax-free in India in the same way my gifts to their Indian bank account is considered. What formalities would I have to follow? I'd appreciate very much if you could point me to some references, in Indian tax laws. As you can understand, I need to establish the true facts.
This can be seen based on how Xoom has recently performed on Monito's real-time comparison engine, which ranks money transfer providers in order of their fees and exchange rates. By analysing hundreds of thousands of comparisons ran between November 2020 and January 2021, we found that Xoom was the cheapest overall on 32% of cash pickup transfers to India from the countries in which Xoom is available for sending. This (already impressive) number is especially true in the US, where Xoom was the cheapest cash pickup service to India on nearly nine in every ten searches!
If you are sending money to your close relative, it won't be taxable. However, if you are sending money to your friend or acquaintance in India and the amount is above Rs. 50,000, then it is taxable. The excess amount above Rs. 50,000 would be treated as income and the receiver of the funds would have to pay income tax on it in India.

Hi Hemant. Can I check if I can send gifts such as cosmetics to my family back in India and not get taxed on it? I am an NRI and holder of Indian Passport Holder based in Singapore. I would typically use a corporate DHL account to ship. Any tips ? Thanks

Affiliate DisclosureInstead of banner ads and paywalls, Monito makes money through affiliate links to the various payment service providers featured on our website. While we work hard to scout the market for the best deals, we're unable to consider every possible product available to you. Our extensive range of trusted affiliate partners enables us to make detailed, unbiased, and solution-driven recommendations for all types of consumer questions and problems. This allows us to match our users with the right providers to suit their needs and, in doing so, match our providers with new customers, creating a win-win for everybody involved. However, while some links on Monito may indeed earn us a commission, this fact never impacts the independence and integrity of our opinions, recommendations, and evaluations.

United States Dollar to Indian Rupee

_{Originally founded in 1851, Western Union has come a long way since their early days, when sending telegrams was the main objective. What started as a transcontinental telegraph cable has evolved into a leading global payments network, allowing the company to remain at the forefront of dynamic money transfers for over 150 years.}
The rules or limits for sending money to India will depend on where you are sending money from. Be sure to check how much you can send from your country to India via your chosen method before you have to report it to the relevant financial authorities.

1. My husband who is a foreign national (OCI Cardholder) would like to make monthly transfers of EUR800 equivalent in INR into my a/c as gift or maintenance (*A. what is advisable btw the two formats for tax purposes?*). I'm currently a NRI although I'm based in India for a few more months while my visa is being processed (expected take 2-3 months).

While the exchange rate may not seem like such a big deal to you, it will matter to your recipient-who won't receive the full amount of the money you send. Take, for instance, the difference between two $1,000 transactions, calculated using different exchange rates:

howdollars to rupees in naira transfer money to india knight


You're probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders Francois, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito's award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests -- all allowing you to make the savviest decisions with confidence.

1. My husband who is a foreign national (OCI Cardholder) would like to make monthly transfers of EUR800 equivalent in INR into my a/c as gift or maintenance (*A. what is advisable btw the two formats for tax purposes?*). I'm currently a NRI although I'm based in India for a few more months while my visa is being processed (expected take 2-3 months).

_{Make sure that you organize the transaction details for future retrieval. For example, when you go to pay the taxes at the end of the year, the transaction details should be easy to access and organized. Most reputable money transfer services provide a good user interface for accessing transaction details. For instance, Wise provides a transaction history that can be exported to your local storage.}

For international transfers, you might have to provide information about the transfer purpose, and fund source, to ensure compliance with anti-terrorism and money laundering regulations. Transfers to and from some countries are prohibited under US law.
^{Affiliate DisclosureInstead of banner ads and paywalls, Monito makes money through affiliate links to the various payment service providers featured on our website. While we work hard to scout the market for the best deals, we're unable to consider every possible product available to you. Our extensive range of trusted affiliate partners enables us to make detailed, unbiased, and solution-driven recommendations for all types of consumer questions and problems. This allows us to match our users with the right providers to suit their needs and, in doing so, match our providers with new customers, creating a win-win for everybody involved. However, while some links on Monito may indeed earn us a commission, this fact never impacts the independence and integrity of our opinions, recommendations, and evaluations.}