Receiving Money by a Government Employee
- Thread starter Babba
- Start date
Skylar
KF Master
Your own brother?
Yes
hitirfan
KF Mentor
You have to check your applicable Conduct Rules/ Asset Rules. I guess this transaction will count as Gift. You might have to intimate the same to your office with documentary evidence. Rest no issue.
Don't know about taxes. Maybe your Accounts Division can help in that.
TaxWiser
KF Mentor
Hey!
Yes, you can definitely receive money from your brother who is abroad into your account. Since you're planning to use it to buy property, it's good to know the tax implications.
The good news is that if the money is a gift from your brother, you generally won't have to pay any taxes on it. In India, gifts received from relatives (like your brother) are exempt from tax, so you should be in the clear there. Just make sure the amount doesn't exceed ₹50,000 in a year, or else the taxman might start getting curious!
Keep all the documentation handy, like the transfer details and a letter stating that it's a gift, just in case you need to show it later. If you have any specific concerns, it might be a good idea to consult with a tax advisor to ensure everything is in order.
Hope this helps! If you have any more questions, feel free to ask.
