Money transfer from Australia to India - avoid receiving ends service tax
All Bank fees were included in the service tax ambit [For example Check bounce, issue of duplicate statement, fees charged for remittance etc]. However as quite a few Banks structured the Remittance Business to show less charges and cover the difference in the Fx rate involved, the Govt has redone the service tax and one needs to pay Rs 120 for an amount of Rs 100,000.  There is no way to avoid service tax on remittance if you are using a remittance service.
From an India tax point of view your father can gift you unlimited amount of money and the transfer would be under Gift Tax act. As per the act there is NO tax on this transaction. I does not matter if you get yourself added into the joint account or not. From a US tax point of view, this transfer would come under gift tax, however in US the gift tax is applicable on the Donor [i.e. your father]. As your father is not a US Citizen the provisions are not applicable to him. Edit Under the liberalized remittance scheme, an individual can transfer upto USD 1 million every year. A CA certificate is required certifying that the taxes on the funds have been paid. Your Bank would be able to guide you on the exact process. Online money transfer facility from Axis Remit is a quick and easy way to transfer money from USA to India. AxisRemit is Axis Bank's flagship inward remittance service enables you to transfer money to your beneficiaries through the most efficient channels like online money transfer, exchange houses and money transfer operators. First, you'll need to find a service that can handle transferring that amount of money, whether it's using a bank, or wire transferring service. Any major Wall Street bank (Wells Fargo, Chase, Bank of America, etc.) should be able to handle it. You could also use services such as Western Union. As for your legal and tax obligations, according to Western Union: Individuals in Canada and the U.K. don’t have any tax considerations,   unless international payments are received as income or in the form of   capital gains. Only then must they report it on their income taxes,   says Ilyas Patel, director at Ilyas Patel Chartered Certified   Accountants based in Preston, U.K., and the director of Tax Expert, a   tax advice website. To that end, when considering their tax obligations, individuals   should take care to look into the reporting requirements on foreign   income or gifts ranging up to a certain amount. For example, in the   U.S., the Internal Revenue Service (IRS) requires individuals who   receive more than $100,000 U.S. dollars from a foreign source to   report it on a Form 3520. “You may not owe taxes on the money, but it   informs the IRS that you received it,” Gragg says, stressing the   importance of consulting with a professional. “They’re looking for   certain terrorist activities and other illegal activity.” Due to the large sum of money your transferring, it would be in your best interest to speak with a banker (maybe even a lawyer or CPA) about this. I want to send some money to Indian in my saving account but I haven't any NRO/NRE account. It is advisable to Open an NRE account. As an NRI you cannot hold a savings account. Please have this converted into NRO account ASAP. Process or Transaction charges or Tax (levied by Indian bank) on money what I'll send to my saving account in India. I know the process or transaction charges (applied by UK banks) from UK to India. There will be a nominal charge levied by banks in India. If you use dedicated Remittance services [Most Leading Indian Banks offer this], these are mostly free. Is there any limit to get rid off tax? Nope there isn't any limit. This depends on service provider. What types of paper work I'll need to do for showing that income is sent from UK after paying tax. If you transfer to NRE account. There is no paperwork required. It is implicit. If not you have to establish that the funds are received from outside India, keep copies of the transfer request initiated, debits to the Bank Account in UK, your salary slips, Passport stamps etc. The difference is whether or not you have a contract that stipulates the payment plan, interest, and late payment penalties. If you have one then the IRS treats the transaction as a load/loan servicing. If not the IRS sees the money transfer as a gift. Most countries tax income in its various ways, but not moving money. If this is a movement of already owned money, it is not tax-relevant. If it is a payment for services done, it is income, and it is the recipient's duty to pay taxes on it. Note that transferring large amounts of money (10k+) between countries can trigger a review, which - worst case - results in questions where it came from. The point of that is solely to verify it was legally earned money (not drug money or such). There is nothing to worry about if the money was legally earned. I want to know it is taxable any guidelines As per the income tax rules, this is taxable to you. The amount will be treated as gift to you. The limit of this in a year [across all friends] is Rs 50,000. If the limit exceeds, the entire amount is taxable. You would need to declare this as other income and pay taxes as per your tax brackets. Would I have to pay income tax other then TDS on interest earned on my saving bank account. No being NRI you are not taxed in India on income outside of India. I am sending money from EU to my OWN saving account. Please note this account is not NRI\NRO\FCNR As an NRI you CANNOT by law hold a regular Savings Account. Please convert this account to NRO ASAP. Does the channel I use to transfer money to India would make any difference? Its 3rd party transfer service. Whether you transfer the funds or not is irrelevant. As the income was during the period when your status is NRI, there is no Tax in India. sold some shares from my Indian demat account online and got some STCG. You would need to pay tax on this in India Edit:   Self Assessment Tax can be paid till 30 July 2015 for the Financial Year 1 April 2014 to 31 March 2015. Tax have to be paid in advance, so if your tax obligation is more than Rs 10,000/- there will be an interest at 1% per month and penalty at 1% per month payable