Foreing Gift
This query is : Resolved
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.
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.
27 November 2008
Taxable in the hands of recipient u/s 56(2) (vi).
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