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Thread: Sending Money from India to UK

  1. #1
    Hello frienz,
    Can I send money from my Indian account to my NRI son-in-law in UK?
    Would he be taxed in the UK?



  2. #2
    there is restriction of sending money to person outside India in form of gift as per RBI act. No resident is allowed to send more than 5000 US dollar a year to a persons outside India. If you want to send more money , you can but only with permission from RBI.

  3. #3
    Junior Member
    Join Date
    Jul 2008
    Location
    Bangalore
    Posts
    21
    There are various ways of sending money to UK;

    1. Xoom
    2. moneytouk.com
    3. Paypal

    etc...

  4. #4
    This is a very good inititive. We can see how very helpful it could be for NRI and PIO's all over the world. Keep up the good work.

  5. #5
    [QUOTE=sharda;3018]Hello frienz,
    Can I send money from my Indian account to my NRI son-in-law in UK?
    Would he be taxed in the UK?[/QUOTE]

    Ans: You can send money to any one abroad. There are some additional charges, exchange rates and taxes will be there....there are many banks and money transferer agents whioch can help you doing the same. just google it. and check it out..

  6. #6
    Senior Member
    Join Date
    Oct 2011
    Posts
    213
    The answer to your question lies in Foreign Exchange Management Act, or FEMA. Any sum of money not more than 250,000 dollars is presided as according to regulations. As recent budget changed everything, you are better advised to get notes from your bank and not completely rely on my answer.

  7. #7
    Senior Member
    Join Date
    Oct 2011
    Posts
    165
    I think there are some restrictions to send money to NRI from India either in the form of cash or a gift according to the reserve bank of India, the Indian residents are not allowed to send cash of more than 5000 US dollar annually for a person staying outside India, which is a NRI. You can send money with the approval from RBI.

  8. #8
    Senior Member
    Join Date
    Oct 2011
    Posts
    167
    You can definitely send money from India to UK and any other foreign countries. For the account transfer of money go to the nearest bank and ask them for help. Actually there is a limit on the transaction amount as above it will be taxable. So enquire about all these things before transferring amount to your son-in-law.

  9. #9
    Senior Member
    Join Date
    Oct 2011
    Posts
    166
    You can flow money at large scale from outside to Indian bank but not allowed to do so on vice versa. There is a limitation to transact of money from Indian bank to a foreign account. Whether it be as gift or donation account you cannot exceed the transfer of money more than 5000 USD. This amount of transaction is not on monthly basis but on yearly basis. For this amount to get transacted you will need to wait for more than two days.



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