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How to get money from India - Legally ?

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Scorpio
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Posted on Saturday, August 05, 2017 - 11:24 am:       


Politricks:




Thank u
You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Politricks
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Posted on Saturday, August 05, 2017 - 10:35 am:       

Scorpio

Aa proceeds yela ochhay anedi key! We recently sold a property and after filing with IT in India same I produced in bank and wire transferred to USA! I will declare the same in USA in next returns!
 

Scorpio
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Posted on Friday, August 04, 2017 - 06:35 pm:       


Vja2va:

Appu itchevadu last three months bank statments adugutadu.. What if u buy after three months?




Last 6 months kadaa bank vaallu chusedi...
You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Scorpio
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Posted on Friday, August 04, 2017 - 06:25 pm:       


Sasibabu:

not required




Thankses


You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Sasibabu
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Posted on Friday, August 04, 2017 - 06:23 pm:       


Scorpio:


not required
 

Sasibabu
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Posted on Friday, August 04, 2017 - 06:23 pm:       

And also have a letter signed by ur parents and in laws that they are giving as gift
 

Scorpio
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Posted on Friday, August 04, 2017 - 06:21 pm:       


Sasibabu:

Wire from Indian bank as gift .. memu 50k theppincham as gift from parents and inlaws




Sasi Bob..


Scorpio:

US lo tax kattaalaa ?

I meant to say, Will it add to your taxable income ?



You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Sasibabu
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Posted on Friday, August 04, 2017 - 06:19 pm:       

Wire from Indian bank as gift .. memu 50k theppincham as gift from parents and inlaws
 

Emc2
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Posted on Friday, August 04, 2017 - 06:15 pm:       

western union, no questions asked

or wire from indian bank
 

Vja2va
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Posted on Friday, August 04, 2017 - 06:10 pm:       


Scorpio:

ikkada illu konaalante...appu iche Bank gaadu huge amount ekkadiid ani question chetshaaadu gandaa ?




Appu itchevadu last three months bank statments adugutadu.. What if u buy after three months?
 

Scorpio
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Posted on Friday, August 04, 2017 - 05:55 pm:       


Jp_rocks:

Aina ippudunna ee worestu admin lo manam illulu konadam risuk emo




neekante CHicago lo estate undi...maakkkooodda oka goodu kaavala gadaa


You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Jp_rocks
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Posted on Friday, August 04, 2017 - 05:46 pm:       

Aina ippudunna ee worestu admin lo manam illulu konadam risuk emo
 

Wellsfargo
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Posted on Friday, August 04, 2017 - 05:40 pm:       


Uno:

Consult a tax professional if tax applies on gift from family




confident gaa chepthunna. Family kaka poyina non US tax residents nundi entha gift teesukunna no issues. US lo gift tax should be paid by the person giving the gift and not the person taking the gift.
 

Scorpio
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Posted on Friday, August 04, 2017 - 05:32 pm:       


Uno:

If you have ever sent more than $25k to India,just declare that you are getting them back (cos you have sent money that has already tax paid)

If you have not,then say,it has loan /gift

Consult a tax professional if tax applies on gift from family

If the money is from inheritance and if taxes are already paid in India,there may be a different procedure (India and US have now taxation treaty,so no double taxation applicable,may be you have to pay teh tax differences if India has lesser taxes)




ohk...CPA gaaditho maatladathaa le ayithe
You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Uno
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Posted on Friday, August 04, 2017 - 05:25 pm:       


Cavs:

Wire kakunda account transfer or depositing a indian bank check option undha, wire transfer ki CHASE lo 90$ charge chestunadu for international wire




Yes,you can deposit check,but it will take atleast month to clear and also the risk of exchange rate fluctuations and ridiculous exchange rates that banks pay
 

Wellsfargo
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Posted on Friday, August 04, 2017 - 05:23 pm:       


King:

if doing it for house your parents can gift to you 14K and to your wife 14K. Your spose parents can also do the same. They can wire if the money is in their account and send you a letter saying that it was regarding gift.




ee 14k limits are for receiving gifts from people who are tax residents of US. If you receive gifts from non US tax residents, you can receive any amount with out problem. This is the US law.

India lo foreign exchange worth 25 lakhs aquire cheyyalante kastam. If you are ready to pay taxes 30%, there is an options.

Find a non Indian, non US citizen living in India. Gift this amount to him. He will pay the tax on this gift. He can transfer up to a million USD from India as per Indian law. since he is not a US citizen or a US tax resident, he can transfer the USD to you with out any legal implications.
 

Uno
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Posted on Friday, August 04, 2017 - 05:23 pm:       


Scorpio:

Uncle Sam gaadu 30% tax aduguthaadu gandaa...?




If you have ever sent more than $25k to India,just declare that you are getting them back (cos you have sent money that has already tax paid)

If you have not,then say,it has loan /gift

Consult a tax professional if tax applies on gift from family

If the money is from inheritance and if taxes are already paid in India,there may be a different procedure (India and US have now taxation treaty,so no double taxation applicable,may be you have to pay teh tax differences if India has lesser taxes)
 

Cavs
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Posted on Friday, August 04, 2017 - 05:20 pm:       


Politricks:

Scorpio

Aa proceeds yela ochhay anedi key! We recently sold a property and after filing with IT in India same I produced in bank and wire transferred to USA! I will declare the same in USA in next returns!




Wire kakunda account transfer or depositing a indian bank check option undha, wire transfer ki CHASE lo 90$ charge chestunadu for international wire
 

Scorpio
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Posted on Friday, August 04, 2017 - 05:18 pm:       


Uno:

Any Indian resident can send $250k per year through banks ,legally.Contact your bank's NRI services dept,they will guide you
If you have NRE account in any Indian bank and if you have transferred more than $25k since the opening of account,you can remit back (wire transfer to your US bank account) upto that extent
Your Bank Manger is the best source for all your clarifications,(Bank policies .exchange rates and RBI policy)




Uncle Sam gaadu 30% tax aduguthaadu gandaa...?
You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Wellsfargo
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Posted on Friday, August 04, 2017 - 05:17 pm:       


Uno:

But for $25K,it's too much hassle,just inquire in your friends/relatives circle in US,who are or will be transferring funds to India..just swap USD with INR in US(cos the bank's INR to USD rates sucks big time)




India lo non blood relatives deggara more than 50k rupees teesukunte taxable. Money laundering chesthunnaru ante bokka lo estaru
 

Scorpio
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Posted on Friday, August 04, 2017 - 05:16 pm:       


Jambalahaart_raja:

INR?
You mean, 39261.825 US Dollar?




YUP
You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Scorpio
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Posted on Friday, August 04, 2017 - 05:14 pm:       


King:

if doing it for house your parents can gift to you 14K and to your wife 14K. Your spose parents can also do the same. They can wire if the money is in their account and send you a letter saying that it was regarding gift.





Politricks:

Scorpio

Aa proceeds yela ochhay anedi key! We recently sold a property and after filing with IT in India same I produced in bank and wire transferred to USA! I will declare the same in USA in next returns!




US lo tax kattaalaa ?

I meant to say, Will it add to your taxable income ?
You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Uno
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Posted on Friday, August 04, 2017 - 05:14 pm:       


Scorpio:

Can any one share some light ?




Any Indian resident can send $250k per year through banks ,legally.Contact your bank's NRI services dept,they will guide you
If you have NRE account in any Indian bank and if you have transferred more than $25k since the opening of account,you can remit back (wire transfer to your US bank account) upto that extent
Your Bank Manger is the best source for all your clarifications,(Bank policies .exchange rates and RBI policy)

But for $25K,it's too much hassle,just inquire in your friends/relatives circle in US,who are or will be transferring funds to India..just swap USD with INR in US(cos the bank's INR to USD rates sucks big time)
 

Jambalahaart_raja
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Posted on Friday, August 04, 2017 - 05:08 pm:       


Scorpio:

25 Lakhs



INR?
You mean, 39261.825 US Dollar?
This is single transaction in the bank. I have personally observed small-business owners and managers like star bucks and softee and yogurt cups selling shop owners depositing 70K and 90K in single transaction in a bank.
"Chill Bro.
I told you to let it go!!"
- The Budhha.
 

Politricks
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Posted on Friday, August 04, 2017 - 05:08 pm:       

Scorpio

Aa proceeds yela ochhay anedi key! We recently sold a property and after filing with IT in India same I produced in bank and wire transferred to USA! I will declare the same in USA in next returns!
 

Jambalahaart_raja
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Posted on Friday, August 04, 2017 - 05:02 pm:       


Scorpio:

appu iche Bank gaadu huge amount ekkadiid ani question chetshaaadu gandaa ?



Bank lo appu teerchataaniki friend deggara appu chesaanu ani cheppu.
Bank lo appu manjooru avvataaniki, basic bank balance baagaa choopinchukotaaniki friend deggara appu chesaanu ani cheppu.
Konni banks lo single account, single transaction $200K limits lo jaruguthaa vuntaayi. source chooyinchaali, genuine vundaali aa godavalu ikkada levv.
"Chill Bro.
I told you to let it go!!"
- The Budhha.
 

King
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Posted on Friday, August 04, 2017 - 05:00 pm:       


Scorpio:

appu iche Bank gaadu huge amount ekkadiid ani question chetshaaadu gandaa ?



if doing it for house your parents can gift to you 14K and to your wife 14K. Your spose parents can also do the same. They can wire if the money is in their account and send you a letter saying that it was regarding gift.
 

Scorpio
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Posted on Friday, August 04, 2017 - 04:57 pm:       


Jambalahaart_raja:

Ikkada Dollars teesko...
India lo Rupees ichheyi...
Adi illegal yevadu annaadu?




ikkada illu konaalante...appu iche Bank gaadu huge amount ekkadiid ani question chetshaaadu gandaa ?
You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Scorpio
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Posted on Friday, August 04, 2017 - 04:56 pm:       


Jp_rocks:

enta




25 Lakhs
You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Jambalahaart_raja
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Posted on Friday, August 04, 2017 - 04:55 pm:       

Ikkada Dollars teesko...
India lo Rupees ichheyi...
Adi illegal yevadu annaadu?
"Chill Bro.
I told you to let it go!!"
- The Budhha.
 

Jp_rocks
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Posted on Friday, August 04, 2017 - 04:55 pm:       

enta
 

Scorpio
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Posted on Friday, August 04, 2017 - 04:54 pm:       

Do we have to pay any taxes to RBI or to US Govt ?

any penalties ?
You do one more Mumbai, you lose Balochistan - NSA Ajit Doval
 

Scorpio
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Posted on Friday, August 04, 2017 - 04:53 pm:       

Can any one share some light ?
You do one more Mumbai, you lose Balochistan - NSA Ajit Doval

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