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Foreing Gift

This query is : Resolved 
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(Querist)
27 November 2008 Hi dear all,
Please explain me treatment of Gift received from abroad from non relatives i.e. friends or relatives of friends from abraod. My client wants to take foreign gift of 15000 Pounds from his friend. Will it taxable or not?
Thank you.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
27 November 2008 Taxable in the hands of recipient u/s 56(2) (vi).
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Taxguy

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Taxguy (Expert)
27 November 2008 Income from other sources.
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