My brother who is an NRI residing in Dubai, wanted to gift my Father a sum of Rs. 500000.
What will be the Tax Implications (if any) on my Brother and Father as well any income tax act or any other act?
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Case of gift
Replies (3)
Exempt as for ur father, ur brother falls in the category of relatives... any amount received from a relative shall be exempt..
Gift Received from a Relative is not taxable.
| Originally posted by : Fenil Shah | ||
 |
Gift Received from a Relative is not taxable. |  |
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