MONEY RECEIVED FROM NRI SON, FEMA

[Pathy Senthil]

Amount received by a father from his Son residing abroad. Son is a NRI and holding Indian passport. Whether such receipts more than 1 lakhs has to be reported in FCRA Form FC1. Rule 6 of FCRA requires submission of FC1 in cases where gift is recieved from any relative. Or is FC1 applicable only for gift received from foreign citizen. Please clarify

Posts / Replies

[DR.MARIAPPAN GOVINDARAJAN]

Any amount received by a father from his son in foreign country is a gift. Therefore filing FC-1 is required if the amount involves more than ₹ 1 lakh.

[Jayaprakash Kamath]

Amount received from NRI holding Indian passport are not not falling under purview of FCRA. No reporting required

[DR.MARIAPPAN GOVINDARAJAN]

May I know the provision sir?