Money transfer from USA to India : Tax Implications

  • Helloo, I am a student of Computer Science in India. I have some query. Suppose if a person from USA want to transfer money in my bank account in india ( amount 10 lacs around ). So tax is applicable on it ? If applicable then how much ?

  • Hello Prateek,

    We would be able to help you better if you can help us understand the situation better, a couple of queries :

    • Are you transferring from your own account in US to your own account in India ?
    • Is the money tax paid in US ?


  • Is some relative transferring you money or is it some client transferring you money to India ?

    This is a big amount and you should have proper head under which the money is coming to you.

  • Yes,

    If its an NRI transferring money who is relative(by definition of income tax rules) then the income wont be taxed, in all other cases, income would be taxed at individual's slab.


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