Tax for gift
This query is : Open
Srinivas Mallappa
(Querist)
30 May 2017
Dear sir,
any income tax is applicable for personal gift of Rs.500000/- to nephew who is staying in abroad. Kindly suggest.
any income tax is applicable for personal gift of Rs.500000/- to nephew who is staying in abroad. Kindly suggest.
CA Mohit Kumar
(Expert)
30 May 2017
it is exempt . it is covered under relative def..
CA Rashmi Gandhi
(Expert)
30 May 2017
No such gift is completely exempted.
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