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IndiaMay 3
Fred Hutchpatlilulli

Tax implications for money transferred to US

Is there a limit on the amount that can be transferred from an NRO account in India to the US, within a financial year? Also, could someone explain what kind of taxes apply ?

Lucid Motors ktRb57 May 4

No implications for transfers between your own accounts. Pay income tax in US for any money earned while living in US. Hire a Tax Consultant to get the job done every year, both to be sure and to have less liability.

Microsoft hyg2323 May 4

No tax implication on receiving money in US. Also no limit

Meta btyo08 May 4

You may have to file form 3520 depending on the amount. Check that out