Gift through nre account
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 July 2014
I am a resident . my relative is NRI and he has a NRE account , he want to give me a gift cheque of Rs 25 Lakhs through his NRe account. I want to know whether this gift is taxable or not in my hand
12 July 2014
no. the gift is not taxable provided the relative is covered in the definition of relative provided under section 56(2)
Message likes :
1 times
12 July 2014
The receipt is fully exempted from tax, since received from relative(provided if the relative is covered u/s56(2)).
Message likes :
1 times
15 July 2014
mention the relation of such relative
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Rent lease agreement
- Nomination of Bank for refund in itr 2
- Relief u/s Section 89
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Lease agreement and tax on sale
- CCFS 2026 Schemed
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
