Comment on Taxation for Traders - Introduction
commented on
14 Sep 2013, 01:12 PM
Kamalam,
Yes your husband can transfer funds to your resident local bank account in India.
Yes the same funds can be used for trading or investing in the markets.
There is no restrictions both in terms of funds being transferred from an NRI to their family members and no restriction on application of funds.
When your husband is transferring funds, it is already taxed in the country where he has earned it. When he transfers it to you, it is just application of his funds and you don’t have to pay taxes as you are receiving it from your husband.
Cheers,