is lottery winnig money be brought to INDIA from U.K?is FEMA applicable?what kind of RBI permissions needed (if it is needed!) to get money to my account?how lenghthy is this process ?what % of Income Tax applicable in India for the lottery won abroad by an indian residing here in India?how to verify the authenticity of money transfer details if recd.from U.K & genuinity of the same?what kind of Monetary formalities to be observed at the preliminary stages?what is MFD?
2006-09-06 07:07:27 · 4 answers · asked by sunny 1 in Business & Finance ➔ Taxes ➔ India
No. Lottery money from any foreign country is illegal in India. In case you have won then immediately go to the nearest policestation at your place of domocile (don't forget ration card) with all your educational certificates,bank passbook and the proof of all your properties prior to the date of purchase of the lottery ticket and surrender the lottery to the policeman. You may have to pay 18% of lottery amount as a caution deposit which may be refunded to your eldest son after your death.Otherwise, you will be booked under POTA,TOTA.FERA etc.To avoid all these troubles,just tear the lottery ticket to pieces and flush it down. If they still contact you, act as if you do not understand what they are talking.
2006-09-06 08:07:08 · answer #1 · answered by indianincredible 1 · 0⤊ 2⤋
Considering that the UK National Lottery is only valid to residents of the United Kingdom and the Isle of Man, I would say that you have definitely been scammed.
2006-09-07 16:36:44 · answer #2 · answered by Wolfman 4 · 0⤊ 0⤋
If you got this in an e-mail, it is a scam.
It's called an advance fee fraud.
2006-09-06 15:30:31 · answer #3 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
No clue, I'm staying right here in the U.S.A.....
2006-09-06 14:10:43 · answer #4 · answered by Marcus P 3 · 0⤊ 0⤋