Money transfer India to USA

[oopiri]

Sold a property in India and got  about 50L rupees. waant to transfer that to USA. Planning to buy a house in next couple of months. need suggestions on safe and legal ways to transfer money from India to US. 

[Sarvapindi]

6 hours ago, oopiri said:

Sold a property in India and got  about 50L rupees. waant to transfer that to USA. Planning to buy a house in next couple of months. need suggestions on safe and legal ways to transfer money from India to US. 

Thru ur bank in india

[rahul_arora]

ltt

[kr123]

Hawala chey

 

[kr123]

India to US masth mandi unnaru chesetollu

50 lakhs is not too much amount 

direct bank to bank wire transfer cheskovachu ga

[kr123]

Safe and legal antey bank to bank kakunda inkem untai vayya 

other ways adigithe dB la knowledge share sestam 

[CuteDesiGal]

Legal bank to bank, high transfer rates like 78$

or frnds vallaki india lo money ivvu ikkada dollars lo thesuko current market rate like 75$

[kichikamukavu]

41 minutes ago, CuteDesiGal said:

Legal bank to bank, high transfer rates like 78$

or frnds vallaki india lo money ivvu ikkada dollars lo thesuko current market rate like 75$

78 aa , 72 vachina ekkuve .

[LadiesTailor]

9 hours ago, oopiri said:

Sold a property in India and got  about 50L rupees. waant to transfer that to USA. Planning to buy a house in next couple of months. need suggestions on safe and legal ways to transfer money from India to US. 

Legal ga ante bank to bank wire transfer is the only way... nee 50L Indian bank lo vunte possible... cash ga vunte akkada avasaram vunna vallaki ichi dollars ga ikkada teesuko...

bank to bank ayuyhe it may take a week or two and talk to NRI services in ICICI or HDFC

[keenguy]

Icici has money2world service, think you need NRO acct for that. 

[keenguy]

Or you can try wire transfer from your local bank, I did a wire from Canara bank few years back, high exchange rate and they also charge commission based upon the amount you are transferring. If I remember correctly they charged around 10k for 5lakhs.

[no01]

house ki down payment antunnav kada...nuvvu ila India nundi frnds through or other illegal ways nundi money US ki thechukunnaka, while paying that as down payment, your lender will do detailed back ground check on how you got that money ani. Akkada nuvvu dorikipothav and explanations ivvali....ade bank to bank kuda they will ask who's money is this that you got it from India ani...but you can get a certificate that its your family money or something like that. Check with you lender first, they will guide you.

nenu naa house  downpayment kosam, naa wife account nundi transfer chesa (loan was only on my name), daanike lender gaadu paper work cheyinchadu that its my wife's money (salaried + taxed) and signatures etc. So, go with legal route and get it through bank to bank even if you loose good amount in exchange rate

[oopiri]

1 hour ago, no01 said:

house ki down payment antunnav kada...nuvvu ila India nundi frnds through or other illegal ways nundi money US ki thechukunnaka, while paying that as down payment, your lender will do detailed back ground check on how you got that money ani. Akkada nuvvu dorikipothav and explanations ivvali....ade bank to bank kuda they will ask who's money is this that you got it from India ani...but you can get a certificate that its your family money or something like that. Check with you lender first, they will guide you.

nenu naa house  downpayment kosam, naa wife account nundi transfer chesa (loan was only on my name), daanike lender gaadu paper work cheyinchadu that its my wife's money (salaried + taxed) and signatures etc. So, go with legal route and get it through bank to bank even if you loose good amount in exchange rate

Thanks bro. for the details. I will do bank to bank wire transfer. I have all the money in my dad's account.

[jefferson1]

2 minutes ago, oopiri said:

Thanks bro. for the details. I will do bank to bank wire transfer. I have all the money in my dad's account.

okka sari contact your tax consultant too

just to make sure you are safe

[oopiri]

1 hour ago, keenguy said:

Or you can try wire transfer from your local bank, I did a wire from Canara bank few years back, high exchange rate and they also charge commission based upon the amount you are transferring. If I remember correctly they charged around 10k for 5lakhs.

yeah, I was thinking this originally but backed out because of the high fees. posted here for any other suggestions. but @no01  bhayya cheppinattu , bank to bank is good if I want to use that money towards downpayment towards mortgage loan.

Do we need to pay any taxes or submit any documents to Indian Govt. ?