Gift tax
This query is : Resolved
14 February 2012
Dear Experts,
A person is going to receive gift in cash from her NRI sister.Will it attract Gift Tax? Will the treatment be different if the money is directly transferred to her account rather than a cheque is issued from the NRI account?
Regards,
Sukanya
A person is going to receive gift in cash from her NRI sister.Will it attract Gift Tax? Will the treatment be different if the money is directly transferred to her account rather than a cheque is issued from the NRI account?
Regards,
Sukanya
14 February 2012
Gift tax Act,1958 shall cease to apply and shall have no effect whatsoever in respect of any gift made on or after the 1st day of October, 1998.
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