Taxability of Gfit by Resident to Non-Resident
This query is : Resolved
CA S Sundararajan
(Querist)
28 March 2008
Dear Sir,
One of my Client, willing to gift a money of INR in the form of Swiss franc to his Brother at Switzerland. What is the taxability of the amount remitted as foreign currency in India . Hope there is no DTAA between the Home country and receiver's country for Gift. Insuch acase , What is the Procedure he should comply.
One of my Client, willing to gift a money of INR in the form of Swiss franc to his Brother at Switzerland. What is the taxability of the amount remitted as foreign currency in India . Hope there is no DTAA between the Home country and receiver's country for Gift. Insuch acase , What is the Procedure he should comply.
Ashok Kumar G
(Expert)
03 April 2008
According to FEMA giving gift is permissible and it can be paid, please check once in income tax act.
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