Taxation on Sponsorship of Education in Foreign Currency
This query is : Resolved
29 December 2020
Hi,
One of my friends is getting about Rs 22-23 lacs being directly paid to a foreign university by her maternal uncle (Mausa Ji), there are two question regarding the same
1) What would be the tax Implication in the hands of my friend
2) Will there be any Tax Implication upon the maternal uncle himself
will provisions of 56(2)(X) be applicable.
One of my friends is getting about Rs 22-23 lacs being directly paid to a foreign university by her maternal uncle (Mausa Ji), there are two question regarding the same
1) What would be the tax Implication in the hands of my friend
2) Will there be any Tax Implication upon the maternal uncle himself
will provisions of 56(2)(X) be applicable.
30 December 2020
Not applicable. It will fall under gift from relative exempt from tax.
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