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Income Tax on money transferred to India being on work permit at UK?
Hello Friends, I am at UK on work permit. I want to know if i will transfer my money to india in non NRI account then how much income tax i would be entitled to? I have heard lots of things from many people that transferring to parent's account wont charge any tax. Please can any one guide me please?
1 Answer
- 6 years ago
Better transfer to your parents. The amount transferred to your parents will be treated as gift and there is no gift tax if the amount is gifted to close blood relatives. Since your parents are your close blood relatives, there is no gift tax. So send the amount to your parents.
