3

I am a Indian Resident and moved to UK for company assignment for short period. In UK, Company giving me some amount for my expense on which i am not paying any tax. I am managing to save some money.

  • Can I transfer these money to India in my saving account? What will be tax implication to me?

  • Can I transfer these money to my wife's account as a gift? What will be tax implication to me and my wife?

  • What if i transfer these money as loan refund to my friend? What will be tax implication for these to me and my friend?

1

Can I transfer these money to India in my saving account? What will be tax implication to me?

Yes you can.
Whether you transfer to India or not does not change your tax obligation.
If I understand correctly you are being paid an allowance in UK to cover your expense. If you are saving; then the saving portion is treated as income and you have to self declare this and pay tax according to you tax bracket.

Can I transfer these money to my wife's account as a gift? What will be tax implication to me and my wife?

There is no tax obligation to your wife. The tax obligation remain same to you as in first point.

What if i transfer these money as loan refund to my friend? What will be tax implication for these to me and my friend?

If there is proper paper trial to show your friend loaned you a sum at zero percentage and you have paid back; amounts are not to large; then there is no tax obligation to your friend.

The tax obligation remains same to you as in point 1.

protected by Chris W. Rea Jan 9 at 19:07

Thank you for your interest in this question. Because it has attracted low-quality or spam answers that had to be removed, posting an answer now requires 10 reputation on this site (the association bonus does not count).

Would you like to answer one of these unanswered questions instead?

Not the answer you're looking for? Browse other questions tagged or ask your own question.