Inward remittance of money won in foreign lottery.
1 year ago
RBI/FEMA website says that money won from foreign lottery cannot be remitted to India. I, being an Indian resident, cannot open a foreign bank account and keep money outside India. Lottery organization is asking for my bank account to transfer the winnings. What legally right path should I follow?
A.Dear Sir,
You may contact advocates practicing in International Law to solve your problem and meanwhile find out a Bank which allows Indian resident to open his account in foreign Bank.
You may contact advocates practicing in International Law to solve your problem and meanwhile find out a Bank which allows Indian resident to open his account in foreign Bank.
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A.Dear Client,
International lotteries are not subjected to Indian gambling law. If you have won the international lotteries then you only have to pay tax when the money is remitted to India. Make sure your are not getting involved in any illegal transactions.
Hope, it is helpful
International lotteries are not subjected to Indian gambling law. If you have won the international lotteries then you only have to pay tax when the money is remitted to India. Make sure your are not getting involved in any illegal transactions.
Hope, it is helpful
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