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Dear ck.kislay,
You are subscribed to the thread "Indian Stock Advice Trading Strategies Trends Market Predictions & Regulations" by pcpune, there have been 3 post(s) to this thread, the last poster was ukdoctor.
https://www.indianrealestateforum.com/forum/city-forums/pune-real-estate/9993-indian-stock-advice-trading-strategies-trends-market-predictions-regulations
These following posts were made to the thread:
https://www.indianrealestateforum.com/forum/city-forums/pune-real-estate/9993-indian-stock-advice-trading-strategies-trends-market-predictions-regulations
Posted by: revhappy
On: November 18 2017 01:36 PM
[USER="211209"]ukdoctor[/USER] , I have found a way to get money out of my NRO account. My colleagues here are always sending money to India. I tell them to give me the dollars and I pay them from my NRO account. I give them slightly better rate than xe.com, so they are happy and I am happy too. So far I have converted about 15L INR to SGD this way.
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/pune-real-estate/9993-indian-stock-advice-trading-strategies-trends-market-predictions-regulations
Posted by: ukdoctor
On: November 18 2017 03:44 PM
[QUOTE=revhappy;n2566402][USER="211209"]ukdoctor[/USER] , I have found a way to get money out of my NRO account. My colleagues here are always sending money to India. I tell them to give me the dollars and I pay them from my NRO account. I give them slightly better rate than xe.com, so they are happy and I am happy too. So far I have converted about 15L INR to SGD this way. [/QUOTE]Keep the amounts you transfer below 50000 INR. Also transfer to different accounts. (Their family members ) If sending large amounts ensure that you have a loan agreement in place ( can be back dated ) as if u had taken a loan earlier and that you are paying it back. Sending >50k INR could make the receiver potentially liable for tax( unless its a relative)
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/pune-real-estate/9993-indian-stock-advice-trading-strategies-trends-market-predictions-regulations
Posted by: ukdoctor
On: November 18 2017 11:29 PM
It also depends on what purpose the funds are used for . If the money is used for small general expenses then the person who recieves it will probably be okay.. On the other hand if the funds are subsequently used for big ticket items ( where PAN etc are quoted (property purchase etc)the person using the funds will have a query from the IT department re. Source of funds . This is especially an issue if they are not a tax payer ( for example elderly/ retired people ) or if the amounts are disproportionate. The IT dept has become very proactive now. Many such cases happening nowadays that i know personally
With warm regards,
Team IREF
With warm regards,
Team IREF
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