TRANSFER OF FUND FROM NEPAL
This query is : Resolved
04 September 2010
1. IF SOME ONE IS A CITIZEN & RESDENT OF NEPAL AND HE TRANSFERS ANY SUM TO ANY OF HIS RELATIVE IN INDIA AS GIFT , IS IT EXEMPTED FROM TAX FOR THE RECEIPIENT . IF YER UNDER WHICH SECTON OF THE ACT.
2. IF IN THE ABOVE CASE HE WANTS TO GIVE LOAN TO ANY OF HIS FRIEND OR RELATIVE IN INDIA EXCEEDING RS 10.00 LACS ,CAN HE DO SO. IF YES WHAT PRECAUTIONS SHOULD BE TAKEN IN DOING SO.
2. IF IN THE ABOVE CASE HE WANTS TO GIVE LOAN TO ANY OF HIS FRIEND OR RELATIVE IN INDIA EXCEEDING RS 10.00 LACS ,CAN HE DO SO. IF YES WHAT PRECAUTIONS SHOULD BE TAKEN IN DOING SO.
05 September 2010
Any gift in cash or by Cheque received by a relative in India from a person in Nepal is not taxable. However, genuineness of such gift is to be established.Besides, creditworthyness and capacity of the donor may be looked into by the AO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 2 Short Term gain & Long term gain
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- ITR 1: Details for showing Exempt Income
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
