Can I send money from abroad to Indian savings account?

India has not sent any limits on receiving funds from abroad. However, the foreign country you are in might have regulations that limit the amount of money you can send abroad. If you are sending the money to your NRE/NRO account or to the bank account of your close relatives, then it is tax-free.

How can I use my Indian bank account from abroad?

Opening an NRI account in India is easy. Just step into the nearest branch of the bank with copies of all the important KYC documents along with originals for verification. Fill in the application form with the basic details, place your signature, and submit it along with the documents.

Can I send money to my savings account from abroad?

International Wire Transfers You can transfer funds from your local overseas bank to your NRI bank account in India. A bank branch transfer is simple, fast, and efficient.

Is money transferred from overseas taxable?

Do You Have To Pay Taxes On Money Transferred From Overseas? Generally, yes. Taxes usually only apply to wire transfers that were clearly sent for business purposes. While it might be necessary to report gifts of foreign money to the IRS, this revenue usually isn’t taxed.

Can I send money to my Indian bank account?

Transferring money to an Indian bank account is easy. All you need to do is: Select the ‘Bank Deposit’ service in the ‘Send to’ box on our website or app. Enter the bank account details of the person you’re sending the money to (we need your recipient’s bank name, branch name, IFSC/ branch code and account number)

Can NRI operate Indian bank account?

A non-resident Indian can open three types of accounts in India as authorised by the Reserve Bank of India (RBI). NRIs can maintain bank accounts in India in the form of rupee or foreign currency accounts. The latter can be maintained only with RBI authorised dealers or banks.