[1] If I receive say Rs.10 Lac gift from a NRI Friend (He is not Relative) who stays in USA, and is Doctor there, will this transsaction attract Income Tax? If Yes, at What rate?
[2] Is Gift deed Complusory for Such Transactions? If Yes, Where can I get Draft of the same?
[3] Can I receive Gift in CASH from my Mother 4 -5 times in one F-Y? Do I need to make Gift Deed?
[4] Which is the Right way to Receive GIFTS in CASH / Kind - so that It will not Attract any TAX Liability
[5] If a Spiritual Leader / Religous Preacher Receives CASH Donation of Rs.5 Lac from Donation Box - Since he is not charging any Entrance / Professional Fees for his Spiritual Knowledge which he Imparts - Will it be Treated as Income? Will it attract TAX? He is also a Trustee in a Charitable Trust Registered under 80G - which is Founded by HIM.
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