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I am a student in the United States and I have taken an education loan back in India. My parents sent me money taken from the education loan for my tuition fees and expenses which I don't need now.

  • Can I send the money back to the personal account of my mother/father in India?
  • Do I need to pay any tax here in the US or would my parents back in India?
  • Is there any limit for me to transfer the money as I am still a student here?
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Can I Send the money back to my personal account of my mother/father in India?

Yes you can.

Do I need to pay any tax here in US or my parents back in India?

There is no tax in India to your parents as it's treated as gift and is tax free between close relatives. In US you would need to pay gift tax if amount is more than USD 16000 a year. See other questions on this site for gift tax rules in US.

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Can I Send the money back to my personal account of my mother/father in India?

Why not? A huge number of Indians working in US are sending money to their parents. There may be multiple reasons like paying a mortgage/loan or sister's wedding or any personal reasons. Usually, there may be a reason column when you send money through any Remittance company.

Do I need to pay any tax here in US or my parents back in India?

Parents are direct dependents in India. So you can share your money with your dependents. Your parents have to pay tax for whatever they are earning in India based on the tax slab and age they fit in. So you can even give them the power of Attorney to control your properties in India.

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