as per above subject i want a opinion on should i take a gift from my uncle who is citizen of USA.
if yes then it is exempted or taxable in the hands of me?
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can i take gift from my uncle
Replies (14)
mention how much Amount.
if less than 50,000 exempt.
more than 50,000 fully taxable.
more than 50,000 fully taxable.
why? uncle is in the defination of relative!
Since uncle cover s under relative definition.
Yes u r correct
Yes... You can receive...
It's under relative heads.
It's under relative heads.
Hi Raju Sir , Good Morning
Very Good Morning Dear 🙏🙏🙏🙏
Firstly state what is your relationship with your uncle. For example father's brother or mother's brother or any other relation.
Only then conclusion can be drawn. Since merely uncle doesnt fall under the purview of relative.
Only then conclusion can be drawn. Since merely uncle doesnt fall under the purview of relative.
my father's brother but he is citizen of USA
father's brother is relative.
hence gift taxation shall not apply
hence gift taxation shall not apply
Yes... I agreed to Mr Pardeep Garg.,
Why not...?!
Father's Brother / sister is covered under relative definition.... Gift from Father's Brother Tax can't applicable. Just create Gift Deed...
Why not...?!
Father's Brother / sister is covered under relative definition.... Gift from Father's Brother Tax can't applicable. Just create Gift Deed...
father's brother (Tau ji/Chacha ji) falls in the definition of relative. Thus, no taxability will arise in case of receipt of gift by you from your uncle. Residential status of the relative is not relevant for the purpose of Income from other source . however you are also advised to refer provisions of FEMA.
Can I gift my mother more than 50,000 through bank transfer? will it be taxable to her?
No... ....😊😊😊😊
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