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I work in Saudi Arabia,

I took a loan here, nearly 10 lakhs Indian Rupees (1,000,000 Indian Rupees).

My questions are:

  1. How to send the full loan amount from Saudi Arabia (money exchange), because I have a money transfer limit?

  2. If I sent to India, what about tax and all that in India?

  3. If it is possible to send the money, to whom do I have to send it (my account, or my parents account)

  4. Any documents I have to show for tax issues (in case tax)

  5. I have savings account my self in Axis Bank, for the past 3 years I am paying taxes, if I send to my Axis Bank account how can I withdraw the full amount (10 lakhs (1,000,000)) on single day

  6. Withdrawal is possible by cash or cheque

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How to send the full loan amount from Saudi Arabia (money exchange), because I have a money transfer limit?

There is no limit for sending money into India. Just use the right banking channel and transfer the funds.

If I sent to India, what about tax and all that in India?

In a financial year if you are outside of India for more than 182 days, you are Non-Resident for tax purposes. Any money you earn outside of India is tax free in India. i.e. there is no tax for this funds in India.

If it is possible to send the money, to whom do I have to send it (my account, or my parents account)

Whatever is convenient, preferably to your own NRE/NRO account.

Any documents I have to show for tax issues (in case tax)

You have to establish that you are NRI and hence this funds are not taxable. Hence its best you transfer into NRE/NRO account. If you transfer to your parents account, you would need a gift deed to make this non-taxable to your parents.

I have savings account my self in Axis Bank, for the past 3 years I am paying taxes, if I send to my Axis Bank account how can I withdraw the full amount (10 lakhs (1,000,000)) on single day Withdrawal is possible by cash or cheque

You can write a check, do a NEFT/RTGS transfer to your loan account, you can withdraw cash by giving some notice time to the Branch Manager of your Branch.

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