Yes. To send money overseas with PayPal, you'll pay an exchange rate margin fee every time you convert from one currency to another. These fees typically range between 2.5% and 4.5%, quickly making PayPal one of the most expensive ways of all to send money internationally.

However, if you owe more to the IRS than you paid to the foreign government, you can claim the whole amount as a tax credit. So if you paid the Danish government $500 in taxes but you owe the IRS $600, you can offset the full $500 you already paid as tax in Denmark - so you'd only owe the IRS $100 as a result of claiming this credit.

If you are an NRI or an OCI, you also need a declaration to the effect that the total remittances being made by you have not exceeded the limit under the foreign exchange laws. As an NRI/OCI, there will be no tax applicable on your remittance since the remittance is not being made under LRS.

^{Yes, You can gift it to your brother. The Taxability will depend on certain points.} 9 inr seminars 8 usd to indian rate me


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. dollars to rupees appliance parts omr to inr rate

As your Son and Daughter are both relative, you can remit this amount as gift and no gift tax attracted to both receiver and giver.But remittances from NRO to NRE account are limited to USD redacted in a financial year.And further proper documentation is needed to send this money. You should hire a CA for this.

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Suppose a commercial property is given to a bank on rental basis for a period of 9 years and during this period, If i decide to gift this property to my nri daughter, can I do that ?? Can the bank agree to this or one has to first terminate the rent agreement and then re-enter into agreement with the new owner

I am a person of Indian origin (holding US passport). I received 2 gifts each under INR 50000 from relatives on our 50th wedding anniversary. The funds were deposited in NRO account. Why I am receiving emails from the Indian bank to specify the source of funds.

If you wish to cancel your money transfer, you will need to log into your account. Look at your recent money transfer activity and select the transfer you would like to cancel. You'll only be able to cancel the transfer if the money hasn't been picked up or deposited. The amount of money refunded will depend on the service chosen and the reason for cancellation.
^{While you can use PayPal to pay online purchases, they don't offer international money transfers to other individuals, for instance sending money from India to a relative in the US. However, specialist international money transfer services like Wise allow you to send money from India to individuals all over the world.}
Western Union is headquartered in Denver, Colorado, and has been in business since 1851. The company originated as a telegram service and launched its money transfer service in 1871. This has been growing ever since through wire transfers, money orders and money transfers in general to over 200 countries.
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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.

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With so much attention on money entering and leaving India, if you fail to report large sums, don't know you have to report them or don't report them correctly, it will likely be discovered. Make sure to declare any large remittance as income on your general tax return with the Indian Income Tax Department.
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If your daughter-in-law remits money from the US to her husband's NRI (Non-Resident Indian) account in India, it would not be considered a gift and would not attract gift tax. However, the money would be subject to foreign exchange regulations in India and any income earned on that money would be subject to income tax in India. It is advisable to consult a tax professional for more information on foreign exchange regulations and compliance with Indian tax laws.
If you're like most NRIs sending money home from the US, you probably want to keep your currency exchange fees to an absolute minimum when converting from dollars to rupees. Using Monito's comparison tools and savvy how-to resources, you can find exactly how to transfer money from the USA to India by taking advantage of the simplest, speediest, and most secure ways to transfer your money from the US to India -- no matter the amount or the pay-out method.
^{However, the rule is different while sending money from the US. When you send money from US to India, the relationship between the sender and receiver is not important. The maximum tax-free amount you can send in a year is $14,000. Up to $14,000, no tax is charged. Beyond that amount, it would be subject to gift tax for the sender. The money can be sent to more than one person. So, you can send $6,000, $4,000 and $4,000 to three people and it will not attract any tax.}

If you're selling a primary overseas residential property, you'll pay the same taxes and get the same benefits as if you were selling your main home in the US. This means you'll pay tax on any excess of sales over $500,000 for joint tax returns and $250,000 for any other filing status. The rate you'll be taxed at is the lower long-term capital gains rate.

Although MoneyGram doesn't have the name recognition of Western Union, it's the second largest money transfer provider in the world, with 30,000 MoneyGram locations in the United States alone. And like Western Union, Moneygram's transfer service scores high points for convenience, since users have the option of visiting a MoneyGram branch, sending money online, or using MoneyGram's mobile app.
d) Please share the Gift deed format required by I T Authorities in India as an acceptable & complete document. convert new zealand dollars to mauritian rupees us 7 size in india


You can pick up your cash in minutes at any one of Western Union's 500,000 agent locations worldwide. If you are receiving funds domestically, you will typically find that on average the funds will arrive within 24 hours. In comparison, international transfers can take between one to five business days to process.
The US has tax treaties with many nations around the world, which prevents double taxation on income. But if you're earning a foreign pension in a country without a treaty, you may be at risk of paying double tax. This is because in the US, pension funds are taxed both when accrued and when paid out, as well potentially in the country the pension is being paid.
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I understand that such gifts are exempt under both countries Tax Laws since it is a Gift to a relative - Sibling / Brother