Gift to overseas citizens of india
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 July 2018
Hi
My Director daughter is NRI currently resident of usa and thier children is OCI (Overseas Citizens of India).
He want to gift some cash to his grand children on their birthday
Now what is limit is for gift to to foreign grand child and it is tax free? Under section
My Director daughter is NRI currently resident of usa and thier children is OCI (Overseas Citizens of India).
He want to gift some cash to his grand children on their birthday
Now what is limit is for gift to to foreign grand child and it is tax free? Under section
22 July 2018
Gift to relative is exempt from tax. Limit is USD 2,50,000 per year under liberalised remittance scheme.
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