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Old 11-09-2011, 12:31 PM
nousername nousername is offline
Senior Member
Priority Date
:
Oct-06
Category
:
EB2
I140 Mailed Date
:
10/11/2006
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
06/29/2007
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Join Date: Jan 2009
Posts: 165
nousername is infamous around these parts
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Not $50K but recently sent $25K and no questions asked. Just paid my bank the wire transfer fee and funds were transferred.

US government has no business with what I do with my "after tax" legit money. Send it to India or burn it, it's my money and I will do what I feel like doing. The recipient will have to pay taxes based on the amount and other regulations (limit, etc.).

Also, "principle" money once taxed (in US or India) is not taxed again, only the earning on that "principle are taxed. I'm not sure what the gift limit is in India but if you are sending money under that limit the no one pays any additional tax. Sender never pays tax again.

I had good success sending money via wire transfer v/s NRI/NRE/Remit-online-Guys. Wellsfargo has some understanding with ICICI and they only charge $5/transaction and exchange rate is fair. At least I had good experience with the big bank.
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Disclaimer: I am not an attorney or immigration guru in anyway or form.
Contributions: Small contributions and participated in San Jose, CA rally. Contributed to 2009 campaign.
Reference: Have introduced few friends to IV.
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