Gift Recieved from NRI

Shruti Chawla (CS)     03 December 2010

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


RAJU (LEARNER)     03 December 2010

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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
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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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