359. Gifting money from UK to parent in India

Q: Hi, Can please clarify this for me. I am an Nri staying in the Uk I am sending some money to my dad to buy so me property in India. What is the maximum amount my dad can receive from me and my sister- who is also an nri separately as gift without getting taxed, he is retired. Thakur A. While there is a limit of Rupees 50,000 for gifts involving non-relatives, no limit applies to gifts sent to parents. You father will not be taxed on any of the money that you or your sister send him. Their is no limit to the amount of money that you can send. When sending money to your father, always use legal banking channels to transfer the money.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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359. Gifting money from UK to

parent in India

Q: Hi, Can please clarify this for me. I am an Nri staying in the Uk I am sending some money to my dad to buy so me property in India. What is the maximum amount my dad can receive from me and my sister- who is also an nri separately as gift without getting taxed, he is retired. Thakur A. While there is a limit of Rupees 50,000 for gifts involving non-relatives, no limit applies to gifts sent to parents. You father will not be taxed on any of the money that you or your sister send him. Their is no limit to the amount of money that you can send. When sending money to your father, always use legal banking channels to transfer the money.
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Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
NriInformation Questions &Answers
Read Disclaimer at bottom of page