about exempt income from dubai
This query is : Resolved
B.L.Aggarwal
(Querist)
18 February 2011
one of our assessee say Ram an Indian resident had opened a BPO at Dubai and being a tax free zone, earn income in Dubai from BPO. Now Ram wants to gift this income from Dubai to his relatives (blood relations) in India.
My querry is this whether this income gifted to the relatives of the Ram from Dubai is in any way taxable in the hands of Ram in India or his relatives.
My querry is this whether this income gifted to the relatives of the Ram from Dubai is in any way taxable in the hands of Ram in India or his relatives.
CA PARAS BAFNA
(Expert)
19 February 2011
Gift to relatives can be made from any part of the world.
Such relatives have been defined under Section 56 of the Income Act.
It will not be taxable to Ram or his relatives.
Such relatives have been defined under Section 56 of the Income Act.
It will not be taxable to Ram or his relatives.
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