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Old 08-17-2015, 07:31 PM
tekot200 tekot200 is offline
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Join Date: Aug 2015
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Default H1B - Remitting money to parents in INDIA

I am currently on H1B.

I have been in US since 2013.

I want to send some money to my parents in INDIA.

One of my friend told not to transfer more than $14,000/- per year as this will attract gift tax.

I am not sure about this.

All my savings are after taxes & social securities been paid. And I have filled IT return as well.

It will be helpful if someone can throw some light on this.

Why I need to pay any more tax than has already been deducted from my salary ?

I am just remitting my after-tax savings.
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