Gift under income tax act
This query is : Resolved
Querist : Anonymous
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.
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.
Aditya Maheshwari
(Expert)
24 November 2011
If from non relative it would be taxable u/s 56(2).
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