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I read there is no tax for transferring money from abroad as gifts to parents, or for gifts to friends if under US$15K, and if transfer is within india to pay (or to payback) no-interest loans, but i have a scenario that does not quite fit any of them solely.
I paid large hospital bills (say Rs 14 lakh in all) for a friend’s mother here in India whose son is in USA, when that friend later transfers about say US $20K to pay me back (about same Rs14L i paid to hospital), is there any tax implication to any one of us 3? Anything i need to submit to IT so it is not treated as income to me, it is effectively a gift from an NRI to his mother to cover hospital bills ( me/my bank account is involved mainly for enabling timely transfers! )
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