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Gift under income tax act

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 November 2011 Dear sir

if i received a gift from foreigner in foreign currency amount Rs 10Cr whether it is taxable and if yes in which section and whether tax can be planeed.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
24 November 2011 If from non relative it would be taxable u/s 56(2).
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