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Am I breaking FEMA, IT law by transfering money in disguise of GIft?


24-Jun-2024 (In Family Law)
My brother has transferred 250000 USD to his daughter, his wife has transferred 250000 to the same daughter in UK in financial year 2024-25. He wants to GIFT me equivalent of 250000 USD in Indian currency by net transfer and then he wants me to transfer the entire amount to NRO account of his daughter in Australia. I am a housewife age 76 and my only earning is from FD. Am I breaking FEMA or IT law by transferring money in disguise of GIft? Need urgent help
Answers (1)

Answer #1
819 votes
The permissibility for receipt of gift is regulated by the Foreign Exchange Management Act, 1999 (FEMA), and its taxability under the Income Tax Act, 1961 (IT Act, 1961). Let us discuss more, so that, I can figure out - Whether you are violating Laws or not?
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