If the money is sent to India at agent location as CASH collection, what taxes are applicable for the recipient?
According to the 2004 provision, CASH collection in excess of Rs. 50,000 is taxable in hands of the receiver. However, there are exemptions to the tax on money received from blood relatives even beyond the limit of Rs. 50,000. Service tax will be applicable in any case.
Discuss with your tax advisor or consult a CPA or tax attorney for any tax related questions.
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Money Transfer FAQ's
