The conversation between human and AI assistant.
What are the taxes I have to pay in India if I transfer money to a NRE account (my account) and to a normal saving account (my family member's account)?
That's good to know. Are there any other taxes I should be aware of when it comes to transferring money in India?
Yes, there is one more tax you should be aware of. If you transfer money to a non-resident Indian or NRI account from your regular savings account, the transaction will be subject to a tax of 0.5% of the amount transferred.