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MONEY RECEIVED FROM NRI SON, FEMA |
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MONEY RECEIVED FROM NRI SON |
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Amount received by a father from his Son residing abroad. Son is a NRI and holding Indian passport. Whether such receipts more than 1 lakhs has to be reported in FCRA Form FC1. Rule 6 of FCRA requires submission of FC1 in cases where gift is recieved from any relative. Or is FC1 applicable only for gift received from foreign citizen. Please clarify Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
Any amount received by a father from his son in foreign country is a gift. Therefore filing FC-1 is required if the amount involves more than ₹ 1 lakh.
Amount received from NRI holding Indian passport are not not falling under purview of FCRA. No reporting required
May I know the provision sir? Page: 1 Old Query - New Comments are closed. |
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