Hello Friends,

I woud like to know if there are any consequences when my parents transfer funds from Indian bank to my Canadian bank. This is all legal transaction in terms of gift. The amount would be in the range of 30-40k.

The Indian government allows US$100k transfer in a year per individual without any questions being asked, I believe so.

But will I have any tax consequences towards this transfer is what would be my primary query. And is there any limit to this kind of transfer and would it better to get the transfers spread over a year time frame.

Please advice.

Thanks.