Call it the next-gen consumption survey. The ongoing government consumption survey is going beyond asking what you eat, what you wear, and what you own; it also wants to know your OTT subscription spend, the time you spend online, how often you shop online, whether you order meals from Zomato or Swiggy, and if you own an electric vehicle.
Yes, as a Person of Indian Origin (PIO) who has acquired foreign citizenship, you are eligible to purchase immovable property in India, subject to certain conditions and restrictions.
It is important to check the customs and tax laws of your country to determine the exact charges you may be subject to. You may also want to consult with a tax professional for more specific advice.
2. If my sister sell these immovable property in India, does she have to pay TDS od Income tax in India?
List out the steps of action required.
There are no taxes charged to the sender or receiver for gifts to close relatives from the USA to India. However, other transfers will be subject to gift tax in the USA, and any amount over $700 dollars will be subject to income tax for the recipient in India.
Your guidance in the matter shall help me in doing the needful
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.
The fees to send 450EUR from Slovakia to the UAE would be EUR4.90. This rate applies if you pay Western Union through a credit/debit card and your recipient will receive the money as a cash pickup. Furthermore, Western Union would tell you how much you will be paid upon checkout. This way, you can review your fees before you continue the cash transfer.
My one friend has arrived at Delhi international airport from London & she wants to deposit Rs redacted lacs in my account but she is detained there & authority is demanding tax from me Till this time they have taken 500000 lacs from me I M INDIAN Please clarify
Our research found that exchange rates given to customers arranging a Western Union international transfer can incur markups up to 7% above the mid market rate. These rates are not nearly as competitive as the foreign exchange services offered by companies like TorFX or Xe.
The very first formal cross-border remittance market was set up to handle transactions between the United States and Mexico. Three decades later this is still the most popular transfer corridor for Western Union accounting for 20% of the market share.
Don't head straight to your American bank - compare specialist money transfer services instead. They nearly always offer better INR exchange rates and lower fees, so for the same amount of US dollars you send, your recipient will receive more Indian rupees.
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. dollars to rupees help with how oftendollars to rupees a dollar
1) option#1: I receive the land as a gift from him, I sell the land and transfer the sale proceed to my overseas bank account via my Indian bank account