Best way to send savings to India

[sqladdict]

sending money to parents or sending to NRE on my name??

 

 

[sqladdict]

if sending money to india will they get taxed

[Bangaruu]

How to send money to india witout savings kuda koncham cheppandi 

[Merabharathmahan]

Nee  nre acnt ki pampinchukovachu but if it is more than $10k then nuvvu every year fbar report cheyali. Also if ur nre account has more than $50k (single) , $100k (married) then fatca form ani inkokati untadata adi kooda file cheyali. ee reporting vaddu anukunte mee parent (no income like house wife) account ki u can transfer (this is treated as gift to parent). Mee parent fd cheyochu valla peru meeda and ninnu nominee ga fd account lo pettumanu. If they get interest on that fd more than 2.5L per year ( if this is the only source of income) then they need to file tax return and pay tax on it. 

i would suggest u to keep ur money in usa unless u will go back to india permanently in near future. Nuvvu velletappudu motham wire cheskoni vellochu and currency exchange rate etu potundo teliyadu kada. In case ippudu nuvvu india send cheskoni malli nuvvu ikkadiki usa ki theppichukovalante that is big process and u will loose money if exchange rate changes too much

[sqladdict]

15 minutes ago, Merabharathmahan said:

Nee  nre acnt ki pampinchukovachu but if it is more than $10k then nuvvu every year fbar report cheyali. Also if ur nre account has more than $50k (single) , $100k (married) then fatca form ani inkokati untadata adi kooda file cheyali. ee reporting vaddu anukunte mee parent (no income like house wife) account ki u can transfer (this is treated as gift to parent). Mee parent fd cheyochu valla peru meeda and ninnu nominee ga fd account lo pettumanu. If they get interest on that fd more than 2.5L per year ( if this is the only source of income) then they need to file tax return and pay tax on it. 

i would suggest u to keep ur money in usa unless u will go back to india permanently in near future. Nuvvu velletappudu motham wire cheskoni vellochu and currency exchange rate etu potundo teliyadu kada. In case ippudu nuvvu india send cheskoni malli nuvvu ikkadiki usa ki theppichukovalante that is big process and u will loose money if exchange rate changes too much

Thankyou! @Merabharathmahan

[laskutapa]

19 minutes ago, Merabharathmahan said:

Nee  nre acnt ki pampinchukovachu but if it is more than $10k then nuvvu every year fbar report cheyali. Also if ur nre account has more than $50k (single) , $100k (married) then fatca form ani inkokati untadata adi kooda file cheyali. ee reporting vaddu anukunte mee parent (no income like house wife) account ki u can transfer (this is treated as gift to parent). Mee parent fd cheyochu valla peru meeda and ninnu nominee ga fd account lo pettumanu. If they get interest on that fd more than 2.5L per year ( if this is the only source of income) then they need to file tax return and pay tax on it. 

i would suggest u to keep ur money in usa unless u will go back to india permanently in near future. Nuvvu velletappudu motham wire cheskoni vellochu and currency exchange rate etu potundo teliyadu kada. In case ippudu nuvvu india send cheskoni malli nuvvu ikkadiki usa ki theppichukovalante that is big process and u will loose money if exchange rate changes too much

baa u mean each transfer 10K ithe then fbar report aa?

[zoolakataka_14]

36 minutes ago, sqladdict said:

if sending money to india will they get taxed

orey @sqladdict em thelusu ra neeku..endho chepthunnav faltu ga

You can send money to your parents, no tax for them.

You can send to your own NRE account in India, no tax.

[Merabharathmahan]

6 minutes ago, laskutapa said:

baa u mean each transfer 10K ithe then fbar report aa?

No. Total nre account balance by end of the year $10k equivalent unte. 

Also NRE account/NRE FD money meeda vache interest paisalanu nee w2 income ki add cheyali usa lo tax filing appudu it is like 1099-INT and pay 30% tax on interest amount. India lo NRE account FD interest ki tax emi ledu

[Android_Halwa]

The best way is not to send.

[laskutapa]

23 minutes ago, Merabharathmahan said:

No. Total nre account balance by end of the year $10k equivalent unte. 

Also NRE account/NRE FD money meeda vache interest paisalanu nee w2 income ki add cheyali usa lo tax filing appudu it is like 1099-INT and pay 30% tax on interest amount. India lo NRE account FD interest ki tax emi ledu

house thesi evani alternative facts kadu ga..

[Merabharathmahan]

5 hours ago, laskutapa said:

house thesi evani alternative facts kadu ga..

All r facts. 

[siritptpras]

Good info

[Kalam_Youtheman]

6 hours ago, Bangaruu said:

How to send money to india witout savings kuda koncham cheppandi 

bhayyaa if u sending money to india let me know I give there u give me here... so both can save some money

 

[mirpakay]

7 hours ago, sqladdict said:

if sending money to india will they get taxed

Open NRE account and use remittance for transferring from US account to your NRE account .