Finance, Forex and Investments

what is the amount can one indivual get exemption from the tax on foreign currency earnings?

Some times friends can send the money through e-transfers from USA to individual who is resident indian for different purpuses. I would like to know whether this income is taxable. What is the maximum amount one can receive from foreign countries annually

Public Comments

1. Foreign currency earnings as in money earned abroad? I don't know about US tax laws. But I can tell you as an American working in Korea that as long as you don't make over a ballpark figure of about $70,000 a year in Korea, you get taxed nil in America. You just have to pay a 3.3% tax in Korea. Hope this helps. I dunno if money transfers into the US are trackable if they're below that amount.