1

My brother has a registered company in the USA and has a payment gateway. Now here in India I need to use his gateway for payment as I am into online technical services and have a registered company.

My query is that after paying taxes in USA, how can he send the rest of the money to me in India? After tax deduction, amount will be about 5 lakhs/month.

Do I need to pay taxes here in India also? (Which means it will be a double tax?) I am so confused about how to get money from there considering its a huge amount which cannot be shown as a gift.

Improve this question
1
  • Where is your company registered, is it India. Are you sending an invoice to your brothers registered company
    – Dheer
    May 27, 2014 at 13:12

2 Answers 2

Reset to default
2

From what I understand this is what you can do :

You need to raise an invoice to your brother's company in USA

Your brother makes a payment into your Indian company's bank account using wire transfer straight into a bank account in your company's name.

Your brother wont have to pay taxes on the money that he pays you against an invoice as it would be an expense and would not be considered as profit for tax purposes.

Once you have the money you can then file your income tax returns after deducting your own expenses etc in India.

I hope this helps.

Improve this answer
0

You can use xoom.com or western union. They are both pretty much the same, as they do not charge any fees but take a cut of 0.7-0.8% on every dollar. However, there is a minimum and maximum limit of sending money. If you want to transfer more, you can wire money in through a financial institution such as Wells Fargo or Chase bank or look to see if there is a State bank of India around you. I am quite sure that they charge $15 plus 0.20-0.30% on every dollar( The last time I used it). Hope this helps.

Improve this answer

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .