Sending money to siblings in India by an NRI
I owe ,000 to my brother in India. Does he have to pay taxes in India if I send the money in one year period (10 monthly installments) to his savings account in India as gift or loan repayment?
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There is no tax liability for your brother in India as under gift tax,t there is no cap on amount.
The transaction may be taxable to you in US, as there is a limit of USD 14000 per year per person.
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