One of my Relative who was Resident in UK. He expired recently.

Since he had a Fixed Deposit,Hence can I transfer it to my Savings account in India. As the value is huge 10 million. Please let me know if this taxable. Taxes regarding the deposit is already deducted by UK bank.

Do I need to pay taxes in India as well.


Are you sure this is your relative and not a scam?

This transaction from India point of view would fall under Gift Tax. So if the relation is as defined under Gift Tax, Spouse, Parents, Siblings, Children, siblings of your parents, siblings of your spouse then no taxes else regular taxes as per tax bracket

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  • 1
    My first thought on reading the question was Advance Fee Fraud AKA 419 scam. – RedGrittyBrick Jul 29 '16 at 13:58
  • 1
    who contacted you it should be the Will executor if its some random person it sounds a scam – Pepone Sep 25 '16 at 17:15

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