GIFT from relative from abroad

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In India, there are no specific limits on the amount of money you can receive as a gift from a relative residing abroad via bank transfer, according to the Income Tax Act, 1961. The primary condition is that the transfer must be conducted through a legitimate banking channel. Tax rules applicable in the sender's country may still apply, so it's worth checking those.

jayesh khokhariya

jayesh khokhariya (Querist)
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21 February 2024 How much gift a brother can receive in india from his brother reside abroad via bank transfer in Yearly basis.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 May 2024 Depends upon the tax rules applicable in the country of your brother. You can receive any amount as per IT act, 1961, no restriction, provided transferred through any banking channel.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 September 2024 Good Luck.

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