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Gift Recieved from NRI


Shruti Chawla (CS)     03 December 2010

Shruti Chawla
CS 
 25 likes  258 points

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Gift From NRI recieved by an individual is taxable or not ? The amount is 30 Lakhs in single trench.

avater

RAJU (LEARNER)     03 December 2010

RAJU
LEARNER 
 64 likes  1087 points

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Hi,


Taxability of gift depends on the relationship between the recipient and the donor.  Gift from relatives is exempt from tax.

Paresh Rathod (CA)     03 December 2010

Paresh Rathod
CA 
 19 likes  222 points

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An NRI can gift to his/her parents in India from their NRE account without their parents suffering any tax.


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