Non-disclosure of foreign assets comes back to haunt thousands - Business News: Latest News & Videos about market and economy | Trendmergers

Breaking

Post Top Ad

Post Top Ad

Non-disclosure of foreign assets comes back to haunt thousands

Some of the summons relate to remitting money that was transferred from another member of the family who has exhausted individual LRS limit for the year. If such fund transfers are not established as a 'gift' to the family member, it could be construed as 'borrowing' - and therefore a violation - by the latter as LRS investments cannot be with borrowed money.

from Industry-Economic Times
Read The Rest:economictimes...

Post Top Ad