income tax on gifts to NRI.
This query is : Resolved
10 January 2009
My mother is a NRI. I, her daughter, am a resident Indian. I would like to gift her some amount,say 10 lacs.
Will this amount be taxable for her? The amount gifted will be reflected in her NRO account.
Will this amount be taxable for her? The amount gifted will be reflected in her NRO account.
C A GROUP COACHING
(Expert)
10 January 2009
IMMATERIAL OF WHICH ACCOUNT THE GIFT PROCEEDS ARE CREDITED WHETHER LOCAL OR NRE/NRO, IN INDIA THIS GIFT IS NOT TAXABLE AS THIS GIFT IS MADE TO THE RELATIVE AS DEFINED IN THE GIFT TAX PROVISIONS.
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