| Author | Message | ||
Mikkymouse Hero Username: Mikkymouse Post Number: 13322 Registered: 04-2008 Posted From: 70.191.59.106 Rating: N/A |
Ibbandi emee ledu , lekkalu choopincha galanu anna amount ee ayana permit chesinathe pampa ee year. Ayana basically former kinda vastaru emo. Last year nunde ee income tax lekkalu vachayi kanee anthaku mundu problem ledu. oka CZ ayyaka nene apesa but maree bank lo oorike untunnayi pampa ee year konchem. Nuvve unna kannulatho mare vanka choodanani reppa venuka ninne ella kaalam dhachani... | ||
Mikkymouse Hero Username: Mikkymouse Post Number: 13321 Registered: 04-2008 Posted From: 70.191.59.106 Rating: N/A |
oka company lo genuine lekkalu a ante choostam andi ,Corp lekkalu every penny counts kada. ila twisting and backdoor lekkalu ki inka experience raledu. Nuvve unna kannulatho mare vanka choodanani reppa venuka ninne ella kaalam dhachani... | ||
Gotcha Legend Username: Gotcha Post Number: 30274 Registered: 02-2008 Posted From: 172.87.48.134 Rating: N/A |
is ur dad govt employee or tax paying permanent employee? if not anovasaranga mee dad ni ibandi petinate as income tax valu will keep sending letters to your dad kada if the amount is huge. ... | ||
Uno Side Hero Username: Uno Post Number: 2728 Registered: 03-2016 Posted From: 99.231.161.157 Rating: N/A |
May be can be shown as a loan and will not attract any tax Just returning the loan will be easier.Just need to show the money train from senders bank account to receivers bank account | ||
Rajusk Legend Username: Rajusk Post Number: 63692 Registered: 02-2008 Posted From: 170.74.231.22 Rating: N/A |
lekkal mastar..meere ee quechen esthe etla andi yes..he has to show that source is overseas remittance..may be as Gift in India..and that way he does not have pay taxes..in India.. since it is a Gift, he can always say, I am returning back this money as I don't need it anymore.ani cheppi ..they can manage in India ( I am sure) | ||
Mikkymouse Hero Username: Mikkymouse Post Number: 13320 Registered: 04-2008 Posted From: 70.191.59.106 Rating: N/A |
aa money sourse antre malli naake back ki vastundi kada? sorry kind of dumb questions emo kanee , ippati varaku one side ee pampadam valla no knowledge. Nuvve unna kannulatho mare vanka choodanani reppa venuka ninne ella kaalam dhachani... | ||
Andhrawala Legend Username: Andhrawala Post Number: 69269 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
mee US bank nunchi money wired to ur NR accounts theesukellinatha eazy kaadhu venakki tehvatam as black component is involved white one very eazy. Certified with CPA tho thechesukocchu Kontha money kids education ki gift gaa grand parents dwaara yearly bank transfer gaa thecchukocchu 4 grand parents can send 10K per year as long as they have sources of income No Signature | ||
Rajusk Legend Username: Rajusk Post Number: 63691 Registered: 02-2008 Posted From: 170.74.231.22 Rating: N/A |
oh ok..gaat it  I think your Dad can gift you (not sure what is the max amount per year in USD) and do a bank transfer from a US Tax situation you will be fine as long as you are within limits of the Gift amount that can be recieved per year from a India tax situation your Dad has to explain the source of funds (remittance) and pay any required taxes on the gains obtained, explain why he is sending it out..(I am sure..this should be easy to manage) | ||
Mikkymouse Hero Username: Mikkymouse Post Number: 13318 Registered: 04-2008 Posted From: 70.191.59.106 Rating: N/A |
Naa bank ante? Naaku India lo bank account ledu, pampindi antha Dad account ke and danitho konna plots konni naa name tho unnayi, konni Amma name tho ,so thanu later inheritance kinda naaku transfer cheyyachu ani or ammeste easy avuthundi ani. ee situation lo ela tevacho cheppandi. Nuvve unna kannulatho mare vanka choodanani reppa venuka ninne ella kaalam dhachani... | ||
Cool_indian Side Hero Username: Cool_indian Post Number: 3581 Registered: 02-2008 Posted From: 108.253.242.151 Rating: N/A |
I am planning to get some info from a professional CA in India and cross check this with a CPA here in US. I heard there is a legal way to register the properties and then certifying with a professional CA will make it easy in the long run. Next India trip lo ide main focus. | ||
Rajusk Legend Username: Rajusk Post Number: 63690 Registered: 02-2008 Posted From: 170.74.231.22 Rating: N/A |
there are two ways: 1. Your Bank manager can give a letter and you can transfer, as long as he is convinced that all those transactions are clean and green 2. You can go to a Chartered Accountant in India, they will give a letter (based on the transaction history) and bank will transfer based on that.. Option #1 is easy way.. | ||
Mikkymouse Hero Username: Mikkymouse Post Number: 13316 Registered: 04-2008 Posted From: 70.191.59.106 Rating: N/A |
Oh k, Thank you. Nuvve unna kannulatho mare vanka choodanani reppa venuka ninne ella kaalam dhachani... | ||
Mikkymouse Hero Username: Mikkymouse Post Number: 13315 Registered: 04-2008 Posted From: 70.191.59.106 Rating: N/A |
Documentation ante? Only naa bank nundi withdraw avvadam and aa accounts lo send money ga undadam thappa inka emi untayi? and nenu ok 250k venakki theesuku ravali after 3-4yrs anukuntunna. Process enti? Nuvve unna kannulatho mare vanka choodanani reppa venuka ninne ella kaalam dhachani... | ||
Kranth1 Side Hero Username: Kranth1 Post Number: 8246 Registered: 03-2016 Posted From: 209.136.235.12 Rating: N/A |
Mee name meedha foreifn countries lo account lo on any given day more than 10K unte, FBAR form fill cheyyalanta. You don't have to file this "Every twist, every turn, can challenge our sense of direction. But it's the choices we make when we reach a fork in the road that define who we are." - Dexter | ||
Mikkymouse Hero Username: Mikkymouse Post Number: 13314 Registered: 04-2008 Posted From: 70.191.59.106 Rating: N/A |
India lo naa name meeda account emee ledu. Ikkada nundi naa bank accoutn nundi Xoom lo pampincha. Nuvve unna kannulatho mare vanka choodanani reppa venuka ninne ella kaalam dhachani... | ||
Mikkymouse Hero Username: Mikkymouse Post Number: 13313 Registered: 04-2008 Posted From: 70.191.59.106 Rating: N/A |
Brining back money legally gurinchi research chesi information dorikithe naaku konchem share cheyyandi, Dad daggara naa money undi and plots kooda ammthe ammesi ikkadaki teesuku ravachu in 3-4 yrs lo, inka citizenship theesukoni ikkade settle avutham kabatti. Nuvve unna kannulatho mare vanka choodanani reppa venuka ninne ella kaalam dhachani... | ||
Kranth1 Side Hero Username: Kranth1 Post Number: 8245 Registered: 03-2016 Posted From: 209.136.235.12 Rating: N/A |
Mee name meedha unna account. Not to your relative's account ani chepparu. "Every twist, every turn, can challenge our sense of direction. But it's the choices we make when we reach a fork in the road that define who we are." - Dexter | ||
Mikkymouse Hero Username: Mikkymouse Post Number: 13312 Registered: 04-2008 Posted From: 70.191.59.106 Rating: N/A |
Konchem clear ga chebuthara idi? Nenu one day 20k maa dad account ki transfer chesa, nenu file cheyyala? Cheste ekkada cheyyali? Nenu US citizen ni, deeniki rules separate aa? Nuvve unna kannulatho mare vanka choodanani reppa venuka ninne ella kaalam dhachani... | ||
Andhrawala Legend Username: Andhrawala Post Number: 69262 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
No tax implications as it is after tax money. Save teh documentation if you plan to bring back down the raod No Signature | ||
Moviebuff001 Side Hero Username: Moviebuff001 Post Number: 7634 Registered: 06-2013 Posted From: 73.136.80.68 Rating: N/A |
In rupees vonly | ||
Uno Side Hero Username: Uno Post Number: 2727 Registered: 03-2016 Posted From: 99.231.161.157 Rating: N/A |
and check is in USD
Once the funds are in your account you can use as you like,can transfer to other account,use checks or even withdraw through ATM.But you can not deposit INR into it | ||
Gotcha Legend Username: Gotcha Post Number: 30272 Registered: 02-2008 Posted From: 73.45.2.79 Rating: N/A |
nenu last year sbi nreaccoubt nunchi hdfc neeki pampa ippudu try cheste elataledu edo lucky ga 1 time eliipoindi ... | ||
Moviebuff001 Side Hero Username: Moviebuff001 Post Number: 7632 Registered: 06-2013 Posted From: 73.136.80.68 Rating: N/A |
So, nenu last year India vellinappudu oka online remittance Intiki pampinchi check roopam lo. Aa check meeda "remittance from abroad" ani oka stamp undi. That's all they verified before depositing into NRE account. Aa note emanna wording difference undachemo kani, mening matram ade. Deposit chesanu kabatti cheppanu. | ||
Uno Side Hero Username: Uno Post Number: 2725 Registered: 03-2016 Posted From: 99.231.161.157 Rating: N/A |
No,you can not.The only way is inward remittances in Foreign Currency (which will be converted into INR and deposited) You can not even deposit money (INR) even at a bank counter | ||
Moviebuff001 Side Hero Username: Moviebuff001 Post Number: 7630 Registered: 06-2013 Posted From: 73.136.80.68 Rating: N/A |
You can. Provided that the source of those funds is categorized as "remittance from abroad" | ||
Uno Side Hero Username: Uno Post Number: 2723 Registered: 03-2016 Posted From: 99.231.161.157 Rating: N/A |
For NRE account you have to transfer in foreign funds from abroad only,hich will be converted into rupees and deposited in to your account BTW you can also open a FCNR Account (foreign currency Non resident ) in USD/Euros/Pounds etc and transfer Foreign currency directly into the account
You can bring back whatever money you have sent to India,with out any questions asked and these days you can transfer online from India to US bank account Coming to bringing funds from India, every Indian citizen has $250k limit per year for buying property.medical treatment,gift etc Your parents /siblings can send to you as gift or for their personal use if they can provide all docs The bank may ask for documents to show the proof of funds etc (can get more info by speaking to your bank. | ||
Cool_indian Side Hero Username: Cool_indian Post Number: 3575 Registered: 02-2008 Posted From: 108.253.242.151 Rating: N/A |
I heard no one can transfer money into the NRE especially in rupees. is that correct? So technically there are no limits. It all depends on these transfer companies limitations. Until 25K, best to use XOOm like services. Anything above, we can wire the money. But the wire option doesnt have a good exchange rate (I heard). Bringing money back is still not very clear. What are the choices of bringing money based on either a) selling property that is gifted to you or b) inherited property or c) by selling property that you bought. Again, a) what are the limits, b) what are the legal ways, c) what are the tax implications and d) what paper trail should be maintained to execute this in long run? | ||
Maverick Legend Username: Maverick Post Number: 68915 Registered: 01-2008 Posted From: 98.225.2.157 Rating: N/A |
can you gift to someone and they can gift u property with paying fbar etc? transaction is between blood siblings anukondi There's a cacophony in the truth, A melody in lies and it accompanies one on every journey, From the lows to the highs | ||
Speaker Hero Username: Speaker Post Number: 18104 Registered: 06-2016 Posted From: 184.151.246.128 Rating: N/A |
Laskugaa... Nenedo BPL badugu jeeevini.. Nannenduku aaa list lo kalipaaav... Nannu teeseyyi... You are Either with Us or NOT with Us.. My Way or Highway....... | ||
Uno Side Hero Username: Uno Post Number: 2720 Registered: 03-2016 Posted From: 199.119.233.162 Rating: N/A |
Technically there are no limits.But money transfer companies have limits to counter fraud and money laundering Do send money to your own NRE/NRO account and further transfer funds locally from that account. If the money is already tax paid ,just mention about the transfer to your tax consultant while filing your returns.There will be no tax implications in India,if there is documentation/money trial If you want to and above $50k wire transfer through bank will be best option Similarly you can legally bring back /repatriate the money through the bank you deposited the money.ICICI has online transfer too | ||
Kranth1 Side Hero Username: Kranth1 Post Number: 8231 Registered: 03-2016 Posted From: 209.136.235.11 Rating: N/A |
Gotcha  "Every twist, every turn, can challenge our sense of direction. But it's the choices we make when we reach a fork in the road that define who we are." - Dexter | ||
Moviebuff001 Side Hero Username: Moviebuff001 Post Number: 7622 Registered: 06-2013 Posted From: 165.225.34.171 Rating: N/A |
Just a random date. | ||
Moviebuff001 Side Hero Username: Moviebuff001 Post Number: 7621 Registered: 06-2013 Posted From: 165.225.34.171 Rating: N/A |
May31st ki 6 lakhs 80 thousand undi, IRS conversion rate 68.1 unte file cheyyakkarledu. But 6,81,001 rupees or more unte, aa year ki file cheyyali. | ||
Gotcha Legend Username: Gotcha Post Number: 30270 Registered: 02-2008 Posted From: 172.87.48.134 Rating: N/A |
anni desi MNC banks now report to eye are yess all nri/nro accounts. nri/nro accounts uncle sam adigadu ante takuna pampi dobutunaru. ... | ||
Kranth1 Side Hero Username: Kranth1 Post Number: 8230 Registered: 03-2016 Posted From: 209.136.235.11 Rating: N/A |
Thanks Bro. ee year file chesta, last year sent it to family members' account. also, IRS odiki ela thelusthundhi, mana Indian accounts lo money gurinchi? "Every twist, every turn, can challenge our sense of direction. But it's the choices we make when we reach a fork in the road that define who we are." - Dexter | ||
Gotcha Legend Username: Gotcha Post Number: 30268 Registered: 02-2008 Posted From: 172.87.48.134 Rating: N/A |
one single day nadu more than 10k unte file cheyali. so if u sent 10k on a single day or 1000$ in 10 days and never withdrew money. in ur indian bank lo at any point of time say 7 lakhs unte file cheseyi guddi ga. if on ur parents name forget it. ... | ||
Cool_indian Side Hero Username: Cool_indian Post Number: 3574 Registered: 02-2008 Posted From: 64.124.131.68 Rating: N/A |
Ehe pedda amount em kadu. Around 10k-12k USD anukondi. Anyway I am trying to find out the policy. I know the websites (Xoom, mone2indua etc). Some of these websites ask the reason for sending (maintenance, gifts etc). How are those used? I heard all nationalised banks in India report remit transactions to IRS. How can IRS use this ? | ||
Kranth1 Side Hero Username: Kranth1 Post Number: 8228 Registered: 03-2016 Posted From: 209.136.235.11 Rating: N/A |
 "Every twist, every turn, can challenge our sense of direction. But it's the choices we make when we reach a fork in the road that define who we are." - Dexter | ||
Nanigadulocal Side Hero Username: Nanigadulocal Post Number: 9655 Registered: 09-2016 Posted From: 63.79.89.20 Rating: N/A |
 naku adhe anipinchindhii .. teliyaka adigaru emo ani remitly gadi ni advertise chesaa .. tawrthaa telisindhii nakuu ... naa first post choosi Cool_indian feeling emi ayyuntundhoo talchkunte .... | ||
Kranth1 Side Hero Username: Kranth1 Post Number: 8227 Registered: 03-2016 Posted From: 209.136.235.11 Rating: N/A |
Malli clarity dobbindi. Throughout the year more than 10K USD send cheste, or have 10K amount in the account for more than X number of days? or interest earned on amount is more than x amount? "Every twist, every turn, can challenge our sense of direction. But it's the choices we make when we reach a fork in the road that define who we are." - Dexter | ||
Moviebuff001 Side Hero Username: Moviebuff001 Post Number: 7620 Registered: 06-2013 Posted From: 165.225.34.171 Rating: N/A |
Aa NRE, NRO accounts lo, On any given day, if the balance is over 10,000 USD, you have to file FBAR. I usually, move a little to different accounts or transfer some to local account if I have to send more. | ||
Gotcha Legend Username: Gotcha Post Number: 30267 Registered: 02-2008 Posted From: 172.87.48.134 Rating: N/A |
ee year vi next taxes file chesinapudu cheste chalu. file only if u have more than 10k USD equivalent in indian banks. ... | ||
Ferrari Hero Username: Ferrari Post Number: 14246 Registered: 10-2008 Posted From: 192.158.48.162 Rating: N/A |
ayanedho property buying annadu ante lekka peddadhe ayi untadhi ani nenu mundhe guess chesa..yearly oka 10k dollars pampe manalantollaki ee thed avarsama...oo egesukuntu vachi remitly, jetli anukuntu free advice ichesttunav..peddha talakayalu Gotcha, Awala, Speaker lantollu septaru le..elli aa TV pani chudu.. | ||
Kranth1 Side Hero Username: Kranth1 Post Number: 8226 Registered: 03-2016 Posted From: 209.136.235.11 Rating: N/A |
Ee year cheste, next year filing lo kadha annai report cheyyalsindhi? "Every twist, every turn, can challenge our sense of direction. But it's the choices we make when we reach a fork in the road that define who we are." - Dexter | ||
Nanigadulocal Side Hero Username: Nanigadulocal Post Number: 9653 Registered: 09-2016 Posted From: 63.79.89.20 Rating: N/A |
year ki naa lanti 5K-10K pampee naa lanti vallu kudaa filing cheyali aaa ?? | ||
Gotcha Legend Username: Gotcha Post Number: 30266 Registered: 02-2008 Posted From: 172.87.48.134 Rating: N/A |
yep. every year nenu nethi noru badukuni links ista kada file cheymani better late than sorry file it now: https://bsaefiling.fincen.treas.gov/NoRegFilePDFIndividualFB AR.html ... | ||
Kranth1 Side Hero Username: Kranth1 Post Number: 8224 Registered: 03-2016 Posted From: 209.136.235.11 Rating: N/A |
Ante enti bro? Ee year I have opened NRE&NRO accounts. oka 25K FD chesanu, deenini declare cheyyala? "Every twist, every turn, can challenge our sense of direction. But it's the choices we make when we reach a fork in the road that define who we are." - Dexter | ||
Legend Username: Twitter Post Number: 59821 Registered: 10-2009 Posted From: 66.194.212.162 Rating: N/A |
idhi thelvadhu kaani ..one way aithe thelusu ..xoom allows you to send 15K per day max 25K per month and 180K per annum. | ||
Gotcha Legend Username: Gotcha Post Number: 30264 Registered: 02-2008 Posted From: 172.87.56.134 Rating: N/A |
wire transfer to entaina pamukovachu kaani nee account ayite next year fbar file cheyadam marchipoku. maha ayite oka koti rupayilu pamputavu antena appy ga pampesuko. ... | ||
Boeing747 Side Hero Username: Boeing747 Post Number: 3936 Registered: 04-2016 Posted From: 192.212.253.128 Rating: N/A |
remitly, placid express etc lanti sites lo chudu. if you provide your credentials (like licence, and other verification details) then the transfer limits are lifted. | ||
Nanigadulocal Side Hero Username: Nanigadulocal Post Number: 9633 Registered: 09-2016 Posted From: 63.79.89.20 Rating: N/A |
Remitly | ||
Cool_indian Side Hero Username: Cool_indian Post Number: 3573 Registered: 02-2008 Posted From: 64.124.131.68 Rating: N/A |
I am sure this is a 'beaten to death' topic. What are the legal limits to send money to India and what are the tax implications on both sides? For example, if my family is buying some property and I want to contribute by lending some money, what are the limits(monthly, per transfer etc). In what scenario should it be included in the IRS tax returns here? What are the legal ways to bring money back here? |