Income tax liability on nri
This query is : Resolved
23 September 2012
If my cousin transfer foreign currency as a gift to my brother's NRI account. Whether any tax liability arise in this case on part of my NRI Brother?
CA. Anuj Gupta
(Expert)
24 September 2012
No,liability arises.
Allowed as per FEMA and Income Tax Act.
Anuj
femaquery@gmail.com
Allowed as per FEMA and Income Tax Act.
Anuj
femaquery@gmail.com
Message likes :
1 times
25 September 2012
How much foreign currency is allowed as gift & Can the amount be transferred after converting the FC into INR. Is there any legal hassle?
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