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I'm an US citizen. My friend and relative who are Indian citizens want to transfer USD 50,000. They will send in two transactions of 25,000 each. Transfer is from their Indian bank account directly to my US account. The purpose is as gift for helping them out in their family dispute.
Does this have any GST or Indian taxes applicable?
Will there be any tax implications in US.
There are no tax implications in India or US. As the amount is significant have a gift deed created for records.
