question about sending money to india

[binojohn]

i want know i am building a new house in india and sending money every month about 2000 to 3000 doller every month through fed bank online . i want know any problem sending money to indian through bank every month

[binojohn]

please somebody help me if anybody know the answer

[hpatel]

question about sending money to india

No there is no problem for sending money to inida...
You need to check limit of sending money per month with the bank on both sides (uSA /INDIA)

What i would suggest is create an account with HDFC Quick remit or ICICI money transfer (see links below) and link your US bank account to it... also add your India Bank account. (you can add as many Inidia / USA accounts as you like) , so money transfer will be easy.... Other benifit is that you can see the exchange rates on daily basis.



Once set up the you can send money on click of button.

Secondly i would suggest you to create a NRE account up in India (HDFC, ICICI, SBI and many other..), so that the money you send is not taxable..

One more important thing is add a mandate to the NRE account, so that your family memeber will have access to your account in india and a seperate ATM card to withdraw month or to issues cheques.

let me know if oyu need more details on this...

Thanks,

[Ops Bright]

When you send money abroad, banks and brokers charge an extra fee by hiding a mark-up in the exchange rate. That’s how they get away with using phrases like “0% commission” and “free”, and that’s why so few consumers understand the real costs.

[Jitendra Biket]

question about sending money to india

When you send money abroad, banks and brokers charge an extra fee by hiding a mark-up in the exchange rate. That’s how they get away with using phrases like “0% commission” and “free”, and that’s why so few consumers understand the real costs.

The answer might or might not depend on whether you are a citizen of India or not. Indian banks that handle the transfer routinely ask for a reason for the transfer and things like "Family maintenance" or "Family medical biils" satisfy them. As far as I know, recipients of money sent by noncitizens of India do not have to pay any gift tax on the money, and the noncitizens are not charged any income tax by Indian Revenue either. The rules might be different for citizens of India with status such as NRI and RNOR or holders of temporary work (H) or student (F) or notable visitor (J) visas.
-Jitendra Singh

[davidmikky]

It's shopping time! - Newbie question

I am travelling back to India from USA through Dubai. I wish to purchase liquor in Duty free shops. Please advise on below,