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Question ID : 41082

AMOUNT RECEIVED FROM SON ABROAD

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

posted by T.R.S. PATHY SENTHIL on Jun 24 2021 12:00AM

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