Sending or Gifting Crypto currency from India to USA

[aRvi]

Need your suggestion

I'm thinking to sell by crypto currency. As taxes in India is 30+%, in order to save on taxes I'm thinking to send crypto currency to my relative in USA and then they will sell that crypto currency and send back that amount to me.

I wanted to understand if that will be beneficial? What are the tax implication involved in that case?

 

[arjungoyal12]

While receiving gift from foreign, if the amount of gift is less than Rs 50,000 then it isn't subjected to tax. If the amount is higher than 50k then you will be taxed as per your income tax slab in India. I can help you like it with this only

 

[aRvi]

While receiving gift from foreign, if the amount of gift is less than Rs 50,000 then it isn't subjected to tax. If the amount is higher than 50k then you will be taxed as per your income tax slab in India. I can help you like it with this only

I was asking regarding sending crypto to Foreign or gifting crypto to Foreign relative.

 

[arjungoyal12]

Cryptocurrency can transferred easily worldwide. So, there's no need to worry about tax as you are not selling it. You are just transferring it from one account to another